Qualcomm estimates Apple will self-supply up to 80% of iPhone modem chips by 2023 -Breaking
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By Stephen Nellis
(Reuters] -Qualcomm Inc stated Tuesday it thinks it can supply 20% of the modem chip to Apple Inc’s iPhone wireless data network by 2023.
Qualcomm (NASDAQ) supplies modem chips to all Apple devices. Qualcomm claimed at an investor conference it expects its phone chip revenue to grow in line the wider market, even though Apple can source 80% of its modems from other suppliers.
Apple has purchased modem chips and is developing its own chip. Intel Corp (NASDAQ)’s modem device. Qualcomm didn’t say whether or not it believed Apple would self-supply the entire share it expects Qualcomm to lose, nor did it suggest that it could turn to other vendors.
Akash Palkhiwala is the chief financial officer of Qualcomm. He stated that Apple would make up only a small percentage of Qualcomm’s chips sales at the end of fiscal 2024. Qualcomm reported chip revenue of $27 billion in 2018, $10 billion from other sources than smartphones.
The company is confident that its handset sales will outpace Apple sales. This is due to the firm’s traction with high-end phone makers like Xiaomi (OTC) Corp, Oppo, and Vivo.
Chief Executive Cristiano Amon stated that “we’re not defined by one end market or one customer relationship.”
Amon stated that Qualcomm also sells Apple so-called radio-frequency front end chips that can be paired with modem chip. Amon stated that Qualcomm has a chance of selling those chips to Apple in the future regardless of Apple’s source for modem chips.
He said, however that these potential wins were not part of Qualcomm’s forecasts.
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