Qualcomm Names Steve Mollenkopf CEO and President
Qualcomm Says Snapdragon Chip to Appear in 250 More Devices
Qualcomm Inc. (QCOM) Chief Executive Officer Paul Jacobs said that 250 devices based on the company’s Snapdragon processor are in the works, part of a push to extend its dominance beyond radio chips.
These products are in addition to 125 that have already been announced, Jacobs said at a company event today in San Diego, where Qualcomm is based. Snapdragon is Qualcomm’s applications microprocessor, a chip that runs software in mobile devices.
Qualcomm sells licenses to much of the technology that underpins so-called 3G mobile-phone services, providing the company with most of its profits. A surge in sales of phones that can access the Internet is driving demand for Qualcomm’s microprocessors and chips that translate radio signals into voice and data, which contribute the majority of revenue.
Snapdragon represents the company’s attempt to increase the amount of sales it gets from each phone and gain ground in the market for chips that run devices including tablets and small computers. Such mobile gadgets and phones are displacing personal computers, Jacobs said.
“Mobile is now the dominant computing platform, and it’s never going back,” he said. “Computing has changed forever.”
Qualcomm fell $1.44, or 2.5 percent, to $57.16 at 4 p.m. New York time on the Nasdaq Stock Market. The stock has gained 15 percent this year.
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