Bloomberg Talks Qualcomm CEO Cristiano Amon Talks Lackluster Phone Chip Sales
Jul 31, 2025
Cristiano Amon, CEO of Qualcomm and a leader in tech innovations, dives into the challenges faced in the smartphone market. He emphasizes Qualcomm's strategic pivot toward diversification, spotlighting growth in IoT and automotive sectors. Amon discusses the company’s ambitious goals for non-handset revenue by 2029 and highlights advancements in AI and computing. With Qualcomm's focus on digital cockpits and smart glasses, Amon showcases how innovation drives new opportunities despite industry competition.
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Qualcomm's Diversification Vision
- Qualcomm aims to achieve 50% non-handset revenue by fiscal 2029, targeting $22 billion in non-handset business.
- The company is consistently delivering growth and creating optionality in areas like data center and robotics.
Qualcomm Beyond Smartphones
- Qualcomm is shifting beyond being a handset company by leveraging its unique IP across computing and AI.
- Growth comes from emerging fields like automotive, IoT, and AI at the edge, even as handset markets stagnate.
No Tariff-Induced Order Pull Forward
- Qualcomm did not observe any order pull-forward effects due to tariffs in the first half of the year.
- The handset guide remains strong with no evidence of pulled-in demand for the quarter.