Qualcomm's Automotive Design-Win Pipeline Expands to $30 Billion
– Greater than 2X Increase in Pipeline Since November 2021 –
– Snapdragon Digital Chassis Enables the Car of the Future –
NEW YORK, Sept. 22, 2022 /PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM) announced at its inaugural Automotive Investor Day that the Company's automotive design-win pipeline has grown to $30 billion1, driven by increased adoption of its Snapdragon® Digital Chassis™ solutions across the auto industry. The increase represents a greater than $10 billion expansion since the Company's fiscal third quarter results were announced. Specifically, the expanded pipeline is a result of significant design wins with automakers and Tier-1 suppliers as Qualcomm Technologies, Inc. becomes the automotive industry's partner of choice for next-generation vehicles.
"Qualcomm is a leader in essential technologies for the Connected Intelligent Edge," said Cristiano Amon, President and CEO of Qualcomm Incorporated. "Our One Technology Roadmap scales across virtually every industry, including automotive. The Snapdragon Digital Chassis, combined with our relationships with automakers, has resulted in a $30 billion design-win pipeline. We are winning the digital future of automotive."
At Automotive Investor Day, Qualcomm provided several key updates:
- Estimated Automotive TAM expansion to $100 billion by 2030
- Automotive design-win pipeline of $30 billion
- Strong QCT Automotive revenue growth from $975 million in FY21 to ~$1.3 billion in FY22e
- Increased QCT Automotive revenue growth forecast since November 2021 to greater than $4 billion in FY26e and greater than $9 billion in FY31e
- Introduced the industry's first integrated automotive super-compute class System-on-Chip, the Snapdragon Ride™ Flex SoC
Qualcomm Technologies and Mercedes-Benz also announced a collaboration to power upcoming Mercedes vehicles with Snapdragon Digital Chassis solutions.
Qualcomm is a leader in the automotive space and its Snapdragon Digital Chassis is the only open, scalable and upgradeable platform for next-generation vehicles.
A replay of the event, presentations and other assets from the Qualcomm Automotive Investor Day can be found on our website.
Qualcomm is the world's leading wireless technology innovator and the driving force behind the development, launch, and expansion of 5G. When we connected the phone to the internet, the mobile revolution was born. Today, our foundational technologies enable the mobile ecosystem and are found in every 3G, 4G and 5G smartphone. We bring the benefits of mobile to new industries, including automotive, the internet of things, and computing, and are leading the way to a world where everything and everyone can communicate and interact seamlessly.
Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. For more information, visit www.qualcomm.com.
Note Regarding Forward-Looking Statements
In addition to historical information, this news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding: our automotive design-win pipeline; the expansion of our addressable market; our automotive revenue forecast; the digital future of automotive; our technologies, technology leadership and technology roadmap; the benefits of our products and technologies, including the Snapdragon Digital Chassis; and anticipated demand for our products and technologies. Forward-looking statements are often identified by words such as "estimates," "guidance," "forecast," "expects," "anticipates," "intends," "plans," "believes," "seeks" and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to: the impact of the COVID-19 pandemic, and government policies and other measures designed to limit its spread; our dependence on a small number of customers and licensees, and particularly from their sale of premium-tier devices; our customers vertically integrating; a significant portion of our business being concentrated in China, which is exacerbated by U.S./China trade and national security tensions; our ability to extend our technologies and products into new and expanded product areas, and industries and applications beyond mobile handsets; our strategic acquisitions, transactions and investments, and our ability to consummate strategic acquisitions; our dependence on a limited number of third-party suppliers; risks associated with the operation and control of our manufacturing facilities; security breaches of our information technology systems, or other misappropriation of our technology, intellectual property or other proprietary or confidential information; our ability to attract and retain qualified employees, and to successfully operate under a hybrid working environment; the continued and future success of our licensing programs, which requires us to continue to evolve our patent portfolio and to renew or renegotiate license agreements that are expiring; efforts by some OEMs to avoid paying fair and reasonable royalties for the use of our intellectual property, and other attacks on our licensing business model; potential changes in our patent licensing practices, whether due to governmental investigations, legal challenges or otherwise; adverse rulings in governmental investigations or proceedings; our customers' and licensees' sales of products and services based on CDMA, OFDMA and other communications technologies, including 5G, and our customers' demand for our products based on these technologies; competition in an environment of rapid technological change, and our ability to adapt to such change and compete effectively; failures in our products or in the products of our customers or licensees, including those resulting from security vulnerabilities, defects or errors; difficulties in enforcing and protecting our intellectual property rights; claims by third parties that we infringe their intellectual property; our use of open source software; the cyclical nature of the semiconductor industry, declines in global, regional or local economic conditions, or our stock price and earnings volatility; our ability to comply with laws, regulations, policies and standards; our indebtedness; and potential tax liabilities. These and other risks are set forth in our Quarterly Report on Form 10-Q for the fiscal quarter ended June 26, 2022 filed with the Securities and Exchange Commission (SEC). Our reports filed with the SEC are available on our website at www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.
Snapdragon, Snapdragon Digital Chassis and Snapdragon Ride Flex are trademarks or registered trademarks of Qualcomm Incorporated.
Snapdragon, Snapdragon Digital Chassis and Snapdragon Ride Flex are products of Qualcomm Technologies, Inc. and/or its subsidiaries.
Pete Lancia, Corporate Communications
Mauricio Lopez-Hodoyan, Investor Relations
1.) As of September 22, 2022. The design win pipeline reflects the current estimated future size of awarded automaker programs, based on forecasts provided directly by automakers and Tier-1 suppliers.
SOURCE Qualcomm Incorporated
Released September 22, 2022