It is reported that the theme of the meeting was economic slowdown at the world economic forum held in Davos, a Swiss ski resort, on Wednesday local time. However, Cristiano Amon, chief executive of Qualcomm, said in an interview that chip suppliers will grow as consumers increasingly want "better phones".
"Qualcomm has redefined its mobile strategy to focus on the high-end market, and we are winning share in the flat market," Amun said. "For example, in devices such as Samsung Galaxy, we once had 40% market share, and now we have more than 75%."
The smartphone market is "mature" and therefore limits growth, Amun said. The risks facing the global economy are the most concerned issue of global business leaders, policymakers and scholars attending the Davos annual meeting. Some also mentioned the threat of global economic recession.
Anmeng said that during the COVID-19, the use of smart phones continued to increase, and work and schools relied more on zoom meetings and keeping in touch with their families.
"People want to have better and more powerful phones," Armon said. "Even in the face of inflation and economic slowdown, these may keep the mobile market stable."
In April this year, Qualcomm had expected revenue in the third quarter to be higher than analysts' expectations.
Anmeng said that Qualcomm's technology provides power for augmented reality and virtual reality devices, including those produced by Facebook's parent company meta platform. He added that Qualcomm's relationship with Facebook was "expanding".
"Augmented reality technology may be as important as mobile phones," he said
Anmeng said that Qualcomm has established partnerships with Microsoft and tiktok in virtual and augmented reality devices, and will announce more cooperation.