Qualcomm has revealed it saw sales of more than $1 billion in its first year of entering the IoT market.
Through its subsidiary, Qualcomm Technologies, the company says it is providing “highly differentiated chipset products, reference designs and more than 30 purpose-built platforms”, designed to help businesses get into IoT.
IoT, or Internet of Things, represents all kinds of different things that can be connected to the internet to be managed, or to collect valuable data. This includes smart city meters, smart cars or smart household objects, to name a few.
“The wireless and computing technologies that enabled the mobile revolution are fuelling fast growth in connected devices, and as the IoT brings exciting change to virtually every industry you can think of, Qualcomm Technologies is present with the right innovations and products to help make that happen,” said Mike Finley, senior vice president and president, Qualcomm North America and Australia, Qualcomm Technologies, Inc.
“We are successfully scaling the business to serve hundreds, and ultimately thousands of new customers in the IoT, and with our deep technology portfolio we are well-positioned to help innovators everywhere participate in the IoT opportunity by building on the depth of our mobile technologies. With our customers we are bringing the benefits of the IoT to life by providing the connectivity, compute and security they need as a foundation.”