IoT major driver for Qualcomm

The Internet of Things is proving a massive driver for Qualcomm, with 2017 generating revenues in excess of $1 billion.

Through its subsidiary, Qualcomm Technologies, more than 30 purpose-built platforms have been released to make it easy for leading brands to develop IoT products. As a result, Qualcomm’s fiscal 2017 IoT revenues exceeded $1 billion, through differentiated chipset products and reference designs.

Mike Finley, senior vice president and president, Qualcomm North America and Australia, Qualcomm Technologies said that the milestone ‘reflects the success of the company’s stategy to work with customers who are category leaders’. “The wireless and computing technologies that enabled the mobile revolution are fueling fast growth in connected devices, and as the IoT brings exciting change to virtually every industry you can think of, Qualcomm Technologies is present with the right innovations and products to help make that happen,” said Finley

“We are successfully scaling the business to serve hundreds, and ultimately thousands of new customers in the IoT, and with our deep technology portfolio we are well-positioned to help innovators everywhere participate in the IoT opportunity by building on the depth of our mobile technologies. With our customers we are bringing the benefits of the IoT to life by providing the connectivity, compute and security they need as a foundation.”

Qualcomm Technologies is serving consumer verticals including wearables, cameras and appliances. Fossil Group was one of the first to deploy Qualcomm Technologies as a partner in its IoT deployment. “Fossil Group has doubled down on its long-term wearables innovation, designing smartwatches that fuse the latest in technology and connectivity into an attractive, beautifully designed watch,” said Greg McKelvey, Fossil Group chief strategy and digital officer. 

“In 2016, Fossil Group was the first to ship smartwatches based on the Qualcomm® Snapdragon Wear™ platform, and since then, we’ve relied on Qualcomm Technologies’ solutions to bring an array of touchscreen smartwatches from brands including Diesel, Emporio Armani, Fossil, Kate Spade New York, Michael Kors, Misfit and Skagen. Qualcomm Technologies has produced key innovations that allow us to deliver the best of fashion and technology to consumers.”