According to Reuters, the company says that sales of IoT chips will represent about one fifth of the $5 billion in revenue that the chipmaker believes it will make outside the mobile phone market. This comes following the company's failed $44 billion bid to buy NXP Semiconductors, which was seen as a diversifying move away from the phone market into higher growth areas.
NXP is a leading supplier to the automotive market, which is seeing accelerating use of electronics as carmakers push for increasingly connected and autonomous vehicles. Qualcomm's deal to buy NXP was quashed last month when it failed to be approved by Chinese regulators.
As far as IoT and smart wearable devices, the company says its chips are now in more than 200 kinds of wearables and 1,300 different wireless headsets, earbuds, and wireless speakers. In addition, it expects about 120% revenue growth in SoC chipsets for connected cameras in fiscal 2018 versus the prior year, noting that major camera brands have selected Qualcomm devices for their image quality and support for on-device AI.
“We are committed to providing innovative technologies to help expand the IoT ecosystem," says Cristiano Amon, president, Qualcomm Incorporated. "We are looking to make it easier for companies of all sizes to succeed in designing and commercializing innovative IoT solutions and to participate in this huge opportunity.”