Technology Stocks

Qualcomm, Inc. (NASDAQ:QCOM) Going beyond Mobile and Expanding into IoT Ecosystem

Qualcomm, Inc. (NASDAQ:QCOM) has a growth driver in the Internet-of-Things (IoT) market which will look just beyond mobile communications. Qualcomm is making a move to boost the revenue streams outside the core mobile market as the legal battle with Apple continues.

Qualcomm Growing its Presence

The chipmakers merely dominate, but it feels like the time is right now for them to diversify their portfolio with the internet of things quickly. It’s a while ago that Qualcomm had a statement regarding their chips for the internet of things that power small, battery-powered equipment that they were powering wearable devices, wireless speakers as well as earbuds.

According to Pete Lancia, Qualcomm’s Vice President of communications, the chipmaker’s strategic initiatives is mainly to grow its presence in the internet of things, automotive, and 5G. The key, however, is whether they can shift away from the reliant on the ever-maturing wireless sector.

The sale of the smartphones is declining, and for that reason, Qualcomm is expanding its non-mobile chip sales aggressively to get some extra revenue outside its core smartphone business. Pete Lancia talks exclusively how the company’s plans of redefining mobile experience will benefit significantly.

The Next Big Revenue Generators

Qualcomm is making sure that it has doubled on the internet of things by promoting the use cases as well as helping startups. According to VP of communications, Qualcomm, the main focus for the next couple of years is on industrial IoT, consumer IoT as well as the Smart City.

The most aspect that is expected to drive a significant growth is majorly the electronic platform. Qualcomm has segmented the aspects accordingly to ensure that they achieve maximum growth for the next years.

The focus for Qualcomm will be on the internet of things, automotive, various home connections, and computing segments. For that reason of the current changes in the computing and connectivity sector, Qualcomm is taking that opportunity even to broaden the industry. There’s no denying that the world is experiencing several things being connected and hence Qualcomm taking the opportunity to diversify into the internet of things is a step forward for the US chipmakers.

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