Qualcomm’s new financial models showed that loss to be of smaller concern than many first thought. The announcements also allowed the company to address the albatross that some feared hung around its neck-the potential loss of 5G modem revenue from Apple as the iPhone maker eventually shifts to a self-designed part. Having previously led the technology and products side of Qualcomm, it isn’t surprising to see him make these moves, but they do reflect a company that’s a bit less focused on its licensing business and more driven by new products and technologies.
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Full details are still forthcoming, but essentially, future versions of at least some of BMW’s ADAS (Advanced Driver Assistance System) features in cars starting in 2024 will be powered by Qualcomm chips.īuilding off of last week’s strong quarterly earnings, the news served to highlight the company’s recent advances as well as the important shift in priorities that Amon is making to the company’s direction. They also laid out a series of numbers and new forecasts to back up their plan to shoot for a 7x increase in their addressable market over the next decade or so.Īt the same time, Qualcomm announced an important new design win for its Snapdragon Ride platform with BMW, highlighting the company’s growing presence in the automotive market. Under the banner of empowering the connected intelligent edge, Amon and others highlighted the company’s growing efforts at diversifying beyond its heritage in mobile devices to include consumer and commercial IoT, network infrastructure, and more. In a direct effort to address that, newly appointed CEO Cristiano Amon and other Qualcomm leaders laid out a comprehensive new vision that ties all those elements and more together at the company’s recent Investor Day event. Unfortunately, not that many people know or understand the extent of the company’s offerings.
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Qualcomm has been building components and software platforms that support multiple types of wireless standards (including Wi-Fi and Bluetooth), as well as things like wearables, earbuds, PCs, and AR or VR headsets, for some time now. Most people still think of Qualcomm as a company that supplies specialized chips, like modems for smartphones, and while they do more than that, they have laid out a multi-year plan that puts a larger emphasis on car tech and even powerful PC hardware. Something to look forward to: Qualcomm has been on a roll over the past few years, particularly because of their role in developing 5G technology, although it hasn’t quite achieved the brand recognizability of companies like Intel, AMD or Nvidia.
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