Qualcomm wants to increase revenue in the PC segment by $4 billion per year by 2029

Qualcomm CEO Cristiano Amon said that by 2029 the company expects to increase its revenue in new market segments by $22 billion per year, and $4 billion of this amount will increase in the PC processor segment. At the moment, Qualcomm receives about 75% of its revenue from chip sales in the smartphone segment.

Image source: Qualcomm Technologies

An increase in annual revenue by $22 billion per year will be quite a serious increase, because in the previous fiscal year, Qualcomm earned $24.86 billion from the sale of chips for smartphones, and its total revenue reached $37.3 billion, although it decreased by 3.2% in compared to the previous reporting period.

Qualcomm expects its automotive revenue to grow approximately 175% to $8 billion by 2029, of which approximately 80% will be driven by contracts already in place with customers. By 2029, Qualcomm’s revenue in the industrial electronics segment will grow by $4 billion, and the segment of augmented reality devices will add only $2 billion. Tablets, wireless headphones and other consumer electronics will increase Qualcomm’s annual revenue by another $4 billion by 2029. The emergence of Qualcomm processors is also possible server purpose, as noted by CNBC. Over time, the brand’s mobile processors will be able to handle computing loads from the field of artificial intelligence, which until recently could only be processed by server systems.

There will also be losses, as Apple must stop purchasing Qualcomm chips that it uses in its smartphones by 2027. However, the expected growth in revenue in other areas should more than cover the losses from Apple’s departure from Qualcomm’s major clients. The total capacity of the market segments in which Qualcomm is ready to offer its products reaches $900 billion. According to the strategy planned back in 2021, the company is developing to this day, as Amon noted at an event for investors.