Qualcomm recently released its second quarter reports. The company once again exceeded expectations with revenue of $10.93 billion. Despite the chip crisis affecting many industries, Qualcomm has left behind a successful quarter with the increasing demand for 5G phones.
Qualcomm and Samsung together by 2030
Increasing its revenue from the mobile phone market by a percentage, Qualcomm has also gained significant revenues from the automotive and IoT industries. While everything was going well for Qualcomm, another good news came from their partnership with Samsung.
Qualcomm introduced its processor that will speed up smart watches 2 times!
Qualcomm introduced the W5 Gen 1 and W5+ Gen 1 smartwatch processors, which offer twice the performance of their predecessors with their features.
Qualcomm announced that its partnership with Samsung has been extended until 2030, along with the second quarter figures. According to the statement, while the scope of the partnership expands, it is claimed that Snapdragon-signed processors will be used in models that previously featured Exynos processors developed by Samsung itself. Accordingly, the Samsung Galaxy S23 may have a Snapdragon 8 Gen 2 processor.
Cristiano Amon, President and CEO of Qualcomm, said the following about the third quarter and its expanded partnership with Samsung:
We are pleased to report strong quarterly results with record QCT Automotive and IoT revenues in a challenging macroeconomic environment. We are also excited to announce the extension of our agreement with Samsung and the expansion of our strategic partnership to deliver leading premium consumer experiences for Samsung Galaxy devices.
Qualcomm ranks high in the sales of Android flagships such as the Galaxy S22. The company will also show itself on more Android smartphones with the latest Snapdragon 8+ Gen 1 in the coming weeks. Qualcomm has also launched the new W5+ Gen 1 chipset for smartwatches, which is expected to power the next generation of Wear OS watches set to launch this year.
Companies like Alphabet, Meta and Microsoft have lowered their expectations in these economic conditions. On the other hand, Qualcomm has not taken a step back. The company expects fourth-quarter revenue to be between $11 billion and $11.8 billion.
So what do you think about the Qualcomm and Samsung partnership? You can share your views with us in the comments section.