Qualcomm Lifted by 5G and IoT

Chip supplier Qualcomm reported a 30% year-on-year rise in revenues for the quarter ending December 26th to 10.7 billion US dollars. QCT revenues (from sales of chips, rather than licensing) rose 35%. Qualcomm anticipates revenues of between 10.2 billion and 11 billion dollars in the current quarter, which would represent an increase of between 29% and 39%.

Qualcomm estimated that shipments of 3G, 4G and 5G handsets grew 7% in calendar 2021, including approximately 535 million 5G handsets. For calendar 2022, the chip designer anticipates sales of more than 750 million 5G handsets.

Qualcomm reported IoT revenue growth of 41% year-over-year in the quarter ending December 26th across consumer, edge networking and industrial. "In consumer IoT, our early investments, collaboration with Microsoft and the recent acquisition of NUVIA uniquely positions us to drive the PC industry transition to ARM-based computing for next-generation connected laptops," Qualcomm said. "We're also seeing strong growth in premium and high-tier Android tablets, further highlighting the convergence of mobile and PC."

The company also reported that its "Wi-Fi 6 immersive home platforms" are seeing significant growth in China, one of the fastest-growing markets for Wi-Fi 6 for both retail and carrier deployments. It also said that "5G as wireless fiber" continues to gain scale and expand globally, while combined smart utility meter, tracking robotics and retail revenues more than doubled over the past year. Source: Qualcomm collateral