Qualcomm achieves strong growth in automotive business

According to the recently released second quarter financial report, Qualcomm's total revenue achieved an annual growth of 11%, climbing to a new high of US$9.393 billion. In particular, its automotive business segment, revenue reached US$811 million, a surge of 87% compared with the same period last year, mainly due to the increased demand for Snapdragon digital cockpit products in new cars. Qualcomm has established partnerships with major global automakers including General Motors, BMW and Volvo. It is expected that the facelifted Volvo XC90, which will be launched on September 4, will be equipped with Qualcomm's Snapdragon digital chassis. Currently, more than 350 million cars in the world use Qualcomm's technology.