Qualcomm chief executive Cristiano Amon sees growing demand for the company’s chip despite the global economic slowdown.
Amon revealed that consumers want “better phones” and a major reflection of how important they are manifested during the COVID-19 pandemic, as consumers relied on them at work, in schools and to stay in touch with family.
“Qualcomm had redefined its mobile strategy to be focused on premium and high-tier, and we’re winning share in a flat market. For example, with devices such as Samsung Galaxy, we had a 40% share and now we have in excess of 75%. People are looking to have better phones like, with more capabilities. Those are things that may keep the mobile market stable, even in the face of inflation and with the risk of a slowdown,” Amon said.
Over the past year, semiconductor companies have struggled to meet demand for their products, and the COVID-19 outbreak has forced people around the world to stay in their homes, leading to a significant increase in demand for technology products as people work remotely.
However, there is a large gap between chip supply and demand, a trend that has led to a rise in chip prices. Persistent inflation, caused largely by Russia’s invasion of Ukraine, is also complicating their problems.
The sources for this piece include an article in Reuters.