Qualcomm today announced its financial results for the fourth quarter of fiscal year 2023, showing that the company is still affected by the decline of the smartphone industry. However, despite a 24% year-over-year decline in revenue to $8.63 billion, the company still beat expectations and is quite optimistic about the outlook for the coming quarters, especially with the launch of the new Snapdragon 8 Gen 3 machine.
“As we enter fiscal 2024, we are pleased with our roadmap and product execution, which puts us in a strong position across all business areas.” Qualcomm CEO Cristiano Amon said in a statement , “Our recent Snapdragon Summit highlighted our technology leadership and established Qualcomm as the leader in on-device generative AI and mobile computing performance.”
It is noted that the company has high hopes for Snapdragon 8 Gen 3 and generative artificial intelligence. Brands such as Xiaomi and Honor have already launched or plan to launch devices equipped with this chip. It is worth noting that Amon said in the earnings call that “most” of the upcoming Galaxy S24 phones will use Qualcomm Snapdragon chips, which also confirms the rumors that some models will use Exynos 2400 processors, and currently The Galaxy S23 series of phones use Snapdragon chips in global markets.
Snapdragon 8 Gen 3 is built with generative artificial intelligence as the design concept, and there are rumors that Samsung Galaxy S24 will also add more generative artificial intelligence features. The Samsung Galaxy S24 is expected to be released in early 2024, probably in January.
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