"Qualcomm has redefined its mobile strategy to be
focused on premium and high-tier, and we're winning share in a flat
market," Amon said. "For example, with devices such as the Samsung
Galaxy, we had a 40 percent share and now we have in excess of 75
percent."
Amon said the market for smartphones is "mature,"
limiting growth. Risks to the global economy have topped the concerns of the
world's business leaders, policy makers and academics at the annual Davos
gathering, with some citing the threat of a worldwide recession.
Amon said that throughout the COVID-19 pandemic, the
usefulness of smartphones continued to increase, with greater reliance for Zoom
meetings at work and school and for staying in touch with family.
"People are looking to have better phones, with more
capabilities" Amon said. "Those are things that may keep the mobile
market stable even in the face of inflation and with the risk of a
slowdown."
In April, Qualcomm forecast third-quarter revenue above
analyst expectations.
Qualcomm's technology powers augmented and virtual reality
devices, including those made by Facebook owner Meta Platforms, Amon said,
adding that Qualcomm's relationship with Facebook is "expanding."
"Augmented reality could be as big as phones," he
said.
Qualcomm already has partnerships with Microsoft and TikTok
for virtual and augmented reality devices, and there are more set to be
announced, Amon said. © Reuters
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