HomeTech NewsQualcomm partners with Automakers: Cars are computers on wheels

Qualcomm partners with Automakers: Cars are computers on wheels

Qualcomm Inc. (Qualcomm Inc.) rose 9.69% on the 28th to close at US$148.19 on the 28th, hitting a new closing high since April 4, due to its revenue breakout in the second quarter of the 2022 fiscal year and better-than-expected financial forecast for this quarter.

Qualcomm CEO Cristiano Amon said on an earnings conference call after the U.S. stock market closed on the 27th that the accessible market size (TAM) of wireless technology in the next 10 years will grow more than seven times to $700 billion.

Amon noted that Qualcomm’s cumulative design orders for automotive chips now exceed $16 billion and have increased by more than $3 billion since the first quarter. Cars are now really connected computers on wheels, he said.

Amon emphasized that Qualcomm should not be seen as just a communications company serving a single industry, but a major intelligent edge connectivity processor company serving numerous new end markets and supporting the growth of the cloud-connected economy.

Qualcomm is currently busy grasping its biggest growth opportunity since its founding, Amon said.

Qualcomm Chief Financial Officer Akash Palkhiwala said on the earnings conference call on the 27th that the financial forecast for this quarter is based on the assumption that the impact of China’s new crown epidemic prevention-related blockade measures will end at the end of the quarter.

Qualcomm Cars are computers

Qualcomm announces long-term partnership with BMW

Palkhiwala pointed out that New York-based investment firm SSW Partners acquired Swedish auto technology company Veoneer, Inc. for $4.6 billion on April 1, most of which was funded by Qualcomm.

SSW Partners then transferred the Arriver business (Veoneer’s self-driving subsidiary) to Qualcomm and plans to divest the remaining non-Arriver businesses in the coming quarters.

Amon noted that after the deal closes, Qualcomm will integrate Arriver’s computer vision, driving strategy and driver assistance assets into the Snapdragon Ride advanced driver assistance system (ADAS) solution.

Qualcomm recently announced a long-term partnership with BMW. The two parties will jointly develop BMW’s autonomous driving software and extend it to the Snapdragon Ride platform.

Veoneer announced last September that the Mercedes-Benz S-class DRIVE PILOT system uses Veoneer stereo vision and radar products to support Level 3 (L3) autonomous driving technology.

Source: Qualcomm 

Mehmet S. Kaya
Mehmet S. Kayahttps://teknonel.com
Mehmet is one of the administrator of Teknonel. As a software developer, he loves to share his knowledge in related topics. He is highly familiar with the editorial process from the inception of an article idea, through the iterative process, publishing, and performance analysis as well as product reviews.


Please enter your comment!
Please enter your name here

Best Deals Today

Follow us on Social Media!


Related Articles

Explore More Articles

Samsung to add satellite communication capabilities to upcoming Galaxy S23-min

Samsung to add satellite communication capabilities to upcoming Galaxy S23

Huawei and Apple have previously released the Mate 50 series and the iPhone 14 series of smartphones. One of the highlights is that both...
Construction Simulator 2022 How to make money fast2-min

Construction Simulator 2022: How to make money fast?

Construction Simulator is a new simulation game that has just been released. Lots of players struggle to get started this fairly complex game and...
Intel's and NVIDIA's Perspective on Moore's Law-min

Intel’s and NVIDIA’s Perspective on Moore’s Law

The golden rule of the semiconductor industry, Moore's law, has always led the development of semiconductor chips. With the slowdown in process technology upgrades,...
China's Zhurong rover shows Evidence large flood on Mars-min

China’s Zhurong rover shows Evidence of a large flood on the surface of Mars

China's Zhurong rover has been wandering and exploring since it landed on Mars in May 2021, continuously collecting data through ground penetrating radar to...