Steve Mollenkopf, CEO of Qualcomm, said: “Our chipset business is benefiting from a strong new product ramp across tiers, particularly with fast growing OEMs in China. We are executing well on our strategic priorities, and we remain confident that our focused investments in 5G and other advanced technologies will create a strong foundation for long-term earnings growth.”
Qualcomm achieved 11 percent increase in MSM chip shipments to 201 million in June quarter.
Total reported device sale in March quarter was $62.6 billion.
Estimated reported 3G / 4G device shipment was 321 million – 325 million with an ASP of $191 – $197 in March quarter.
In the premium tier, Snapdragon 820 has more than 150 smartphone and tablet designs. The chip major claims that the Snapdragon 821, which offers further performance enhancements, will help set a new bar for flagship smartphones, mobile VR head mounted displays and other new devices.
The updated Snapdragon 600 and 400 products are driving growth in the high and mid-tiers.
Qualcomm is expanding presence in adjacent opportunities including automotive, networking, mobile compute and IOT. The addressable opportunity for these adjacent areas is expected to grow at a CAGR 18 percent over the next five years from $12 billion to $29 billion.
More than 60 manufacturers are using Qualcomm’s low power LTE IOT modems. Qualcomm has over 350 home and enterprise products either in production or design for the new Wave 2 11ac standard for WiFi networks.