Qualcomm Partners with Samsung as Revenues Surge

Qualcomm reported that it earned a net income of $3.7 billion on revenues of $11 billion for the quarter ending June 26, a gain of 36 percent year-over-year and slightly beating analyst expectations. But its new partnership with Samsung is perhaps even more interesting.

“We are pleased to report strong quarterly results, with record automotive and IoT revenues in a challenging macroeconomic environment,” Qualcomm president and CEO Cristiano Amon said. “We are also excited to announce the extension of our patent license agreement with Samsung and the expansion of our strategic partnership to deliver leading premium consumer experiences for Samsung Galaxy devices. Qualcomm is well positioned to be the company bringing advanced connectivity, data processing, and intelligence to the edge, enabling cloud-edge convergence.”

As hinted at in that quote, Qualcomm announced a strategic partnership with Samsung to deliver premium consumer experiences for Samsung Galaxy devices. So, in addition to licensing  So, in addition to cross-licensing 3G, 4G, 5G, and upcoming 6G technologies through the end of 2030, Samsung has agreed to use more Qualcomm microprocessors in its upcoming premium smartphones, PCs, tablets, extended reality devices, and more. I assume this means that Samsung will no longer use its Exynos chipsets in some flagship products.

As for its financial results, about $9.4 billion of Qualcomm’s revenues came from chipset sales, up 45 percent YOY, while $1.5 billion came from technology licensing, up 2 percent YOY.