November 25, 2022

Qualcomm: demand for wireless technology is increasing

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The growing applications and capabilities of wireless technology are driving growth across the board in Internet of Things (IoT), automotive, handsets, and RF front-end products.

During its quarterly earnings call on Wednesday July 27, Qualcomm reported that it achieved strong year-over-year growth across all revenue streams and record revenues in its automotive and IoT segments.

“I am very pleased with our performance in the third quarter of the fiscal year and how we continue to execute on our long-term vision of creating a world where everything and everyone is intelligently connected,” said the chairman. and CEO of Qualcomm. Cristiano R. Amon said during the call.

Transition to next generation vehicles

In the quarter that ended June 26, revenue from the company’s automotive segment increased 38%. Qualcomm highlighted its design wins with global automakers and Tier 1 customers for Qualcomm’s Snapdragon Digital Chassis platform. This includes a winning design with Volkswagen Group software company CARIAD to power future Volkswagen automated driving solutions.

“In automotive, the Snapdragon chassis is quickly becoming the industry’s platform of choice and enabling the transition to next-generation vehicles,” Amon said.

Qualcomm’s IoT revenue grew 31%. During the quarter, the company launched four new Wi-Fi 7 platforms, ushering in an era of 10 Gbps Wi-Fi. He also announced two new 5G-connected Qualcomm Robotics platforms with enhanced artificial intelligence (AI) capabilities to power next-generation robotics and drones.

“For personal computing, we continue to drive the inevitable transition to ARM,” Amon said. “We’re well on our way to delivering Windows on Snapdragon compute platforms for next-generation PCs powered by our custom processors while redefining mobile productivity and on-device AI.”

Build for the intelligent edge

Handsets revenue increased by 59%. The company said revenue growth in this segment is being driven by increasing processor content per device and expanding its addressable market.

RF front-end (RFFE) revenue increased 9%. The company said RFFE solutions extend beyond cellphones, with next-generation Wi-Fi and Bluetooth RF front-end modules enabling superior wireless performance in automotive and IoT devices.

“None of our growth engines have changed,” Amon said. “All the fundamentals of our strategy are in place. We’re really focused on the things we can control, but our strategy is working. We are transforming Qualcomm from a communications company for the mobile industry into a connected processor company for the intelligent edge.

Expansion of the 7X addressable market

Along with the earnings call, Qualcomm also announced that it and Samsung have entered into a new multi-year agreement starting in 2023 that will expand the use of Snapdragon platforms in smartphones, PCs, Galaxy tablets, extended reality ( XR) and more.

Looking ahead, Amon said Qualcomm is mindful of the tough economic environment and remains disciplined on investments and focused on customers and industries.

“We believe the industry trends driving demand for our technologies remain unchanged and continue to validate our strategy, positioning us for the long term. We are still on track to expand our addressable market more than 7x to approximately $700 billion over the next decade. »

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