Qualcomm Sees ‘Large New Opportunities’ in IoT, Connected Car, CEO Says

The “smartphone opportunity” remains a “strong positive” for Qualcomm, which forecasts “continued healthy global demand in the near term and over the next several years” in that segment, CEO Steve Mollenkopf said on an earnings call. “We also continue to gain traction in adjacent areas where our mobile technologies and capabilities can deliver next-generation solutions.” Areas such as IoT and the connected car “are expected to represent large new opportunities for Qualcomm, with over 5 billion new non-phone connected device shipments expected in calendar year 2018,” he said. In connected car, Qualcomm has more than 40 design wins with “15-plus” OEMs, and its new two LTE modems, the Snapdragon X12 and X5, will “augment our portfolio to support connectivity across all tiers of the automotive industry,” he said.