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Qualcomm CEO: We're diversifying beyond declining Apple business

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The tech duo's licensing agreement ends in 2027. Research firm Futurum estimates that Qualcomm's annual modem revenue from Apple is between $5.7 billion and $5.9 billion. Analysts estimate Qualcomm will pull in about $43.5 billion in sales this year.
In an interview with CNBC, Qualcomm CEO Cristiano Amon discussed the company's strategy to diversify beyond its traditional smartphone business, emphasizing growth in new areas such as automotive, networking, and computing. Amon highlighted that while smartphones remain a significant part of Qualcomm's revenue, the company is actively expanding into other sectors to reduce dependency on the mobile market. He mentioned that Qualcomm is seeing strong demand for its chips in the automotive industry, particularly for electric and autonomous vehicles, and is also making inroads into the Internet of Things (IoT) and 5G infrastructure. Amon expressed confidence in Qualcomm's ability to navigate the evolving tech landscape and continue to drive innovation across multiple industries.

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