Qualcomm is surrounded by problems. The collapse of its bid for NXP could prove disastrous for its strategy to expand in the Internet of Things and automotive sectors. Major smartphone makers are turning to Qualcomm’s Chinese competitors or to their own inhouse chips. And its legal battles with Apple are likely to cost it slots in the next generation iPhone. Despite all this, the US chip giant announced strong results for its fiscal third quarter. It posted better-than-expected revenue of $5.6bn for the quarter ended June 24, up 4% year-on-year. Net income of $1.2bn was up 41%, while licensing revenue was up 25% to $1.47bn. Qualcomm will use $30bn of the $40bn it planned to spend on NXP to buy…