Qualcomm on Tuesday unveiled its new Snapdragon 8 Gen 1 chip to give high-end Android smartphones clearer photos and graphics in an effort to boost its offerings amid steep competition, Reuters reports.
Qualcomm said the new chip will have similar computing cores to MediaTek and Samsung, but most of the chip is designed by Qualcomm itself, including the ability to boost photos and improve graphics for mobile games.
Alex Katouzian, Qualcomm senior vice president and general manager of mobile, compute and infrastructure, told the news outlet the new chip has "the biggest CPU."
More than a dozen phone makers, including Sony, Xiaomi, Honor and others have signed deals to use the new chips and will be including them in phones before the end of 2021.
At the company's November 16 investor day, it said it expects revenues from its QCT division to grow at "mid-teens" compound annual growth rate and will have at least a 30% operating margin by fiscal 2024. It also expects handset and RF Front-End revenues to grow at least in-line with a 12% serviceable addressable market by 2024. Automotive revenues are expected to be around $3.5 billion in five years and approximately $8 billion in 10 years, with revenue from the Internet of Things to approach $9 billion by fiscal 2024.