Strategy Analytics released a report today saying that the automotive field is one of Qualcomm’s fastest growing businesses. Qualcomm will reach about $1.5 billion (about 10.32 billion yuan) in automotive revenue in the 2022 calendar year, accounting for about a quarter of the total revenue in the field.
▲ Source: Strategy Analytics
According to the report, by 2031, automotive revenue will grow at a compound annual growth rate of 25% to more than 9 billion US dollars (about 61.92 billion yuan).
The financial report shows that Qualcomm’s revenue in fiscal year 2022 was US$44.200 billion (approximately RMB 316.472 billion), a year-on-year increase of 32%; net profit was US$12.936 billion (approximately RMB 92.622 billion), an increase of 43% year-on-year.
Qualcomm previously expected revenue in the first quarter of fiscal year 2023 to reach US$9.2 billion (approximately RMB 63.296 billion)-US$10 billion (approximately RMB 68.8 billion).