Qualcomm CEO doesn’t think we’ll stop buying high end smartphones any time soon

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Qualcomm chief executive Cristiano Amon believes sales of high-end smartphones will be unaffected by any economic slowdown, telling the World Economic Forum (WEF) in Davos that he sees room for growth even in the current climate.

Sales of smartphones slumped by 12.5% during 2020 as retailers closed their doors and consumers delayed purchases, however, the reopening of marketplaces and the availability of 5G handsets at more price points contributed to a 6% increase in 2021.

However ongoing challenges concerning component shortages (opens in new tab), supply chain disruption, and lockdowns in China have conspired to threaten any further growth.