Qualcomm Reigns as Global Leader in Mobile Data Chip Supply

CIOTechOutlook Team | Wednesday, 20 November 2024, 05:30 IST

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Qualcomm is the leading provider of mobile phone chips that link phones to mobile data networks globally. The company has been making efforts to broaden its range of products, securing partnerships with companies like General Motors to provide chips for car dashboards and driver-assistance systems, as well as working closely with Microsoft and PC manufacturers to rival Intel and Advanced Micro Devices in the laptop market.

The company is also struggling with the ongoing decrease of its business from Apple, who is working on creating their own wireless modem chips. Qualcomm's finance chief and chief operating officer, Akash Palkhiwala, stated that the new categories would balance out the decrease in sales.

"This growth in annual revenue far exceeds the scale of the Apple chipset business revenues today," he said during the event.

Qualcomm projected $8 billion in revenue from automotive chips and $4 billion from PCs by fiscal 2029. It anticipates receiving $2 billion from augmented and mixed-reality headsets, like those produced by Meta Platforms, which currently utilize Qualcomm chips.

The leading semiconductor firm anticipates $4 billion in industrial chips for linking factory machines to networks and another $4 billion for chips for IoT, a category encompassing devices like wireless headphones and smart home gadgets. In the recently released fiscal year 2024 report, the company recorded a decrease in IoT revenue to $5.4 billion, significantly falling short of its projected $9 billion by fiscal 2024, as stated in a previous investor day in 2021.

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