Qualcomm Incorporated (QCOM): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la technologie sans fil, Qualcomm Incorporated est une puissance technologique, transformant la communication mondiale par le biais de son modèle commercial innovant. En tirant stratégiquement les technologies de semi-conducteurs de pointe, des portefeuilles de brevets étendus et des partenariats robustes avec des géants de l'industrie comme Apple et Samsung, Qualcomm s'est positionné comme un architecte critique de la connectivité mobile moderne. Cette toile de modèle commercial révèle comment l'entreprise génère de la valeur en pontant des recherches avancées, des collaborations stratégiques et des solutions sans fil révolutionnaires qui alimentent l'écosystème numérique dont nous dépendons quotidiennement.

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: partenariats clés

Collaborations stratégiques avec les fabricants de smartphones

Qualcomm entretient des partenariats critiques avec les principaux fabricants de smartphones:

Fabricant	Détails du partenariat	Alimentation estimée des puces (2023)
Samsung	Licence de processeur Snapdragon	187 millions d'unités
Pomme	Licence de technologie du modem	Accords personnalisés limités
Xiaomi	Fourniture complète du chipset	214 millions d'unités

Partenariats de fabrication de semi-conducteurs

Qualcomm collabore avec les fabricants avancés de semi-conducteurs:

• TSMC: fabrication de puces 5NM et 3NM
• GlobalFoundries: RF et production de semi-conducteurs analogiques
• Samsung Foundry: Capacité de fabrication alternative

Partenaire semi-conducteur	Processus de fabrication	Capacité de production annuelle
Tsmc	Processus avancé 3NM	100 000 plates-formes par mois
GlobalFoundries	Technologie RF 14NM	60 000 plates-formes par mois

Alliances de recherche et développement

Qualcomm entretient des partenariats stratégiques de R&D avec les établissements universitaires:

• Institut de technologie du Massachusetts (MIT)
• Université de Stanford
• Université de Californie, Berkeley

Accords de licence de télécommunications

Réseau de licence étendu à travers les fabricants d'équipements de télécommunications:

Fabricant d'équipements	Type de licence	Revenus de licence annuelle estimées
Éricson	Technologie 5G	1,2 milliard de dollars
Nokia	Licence de brevet sans fil	980 millions de dollars

Coentreprises de marché émergentes

Extension stratégique du marché grâce à des partenariats ciblés:

Pays	Coentreprise	Taille de l'investissement
Chine	Xiaomi	300 millions de dollars
Inde	Reliance Jio	250 millions de dollars

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: activités clés

Conception et développement des technologies de télécommunications sans fil

Investissement annuel de R&D: 5,7 milliards de dollars au cours de l'exercice 2023

Zone technologique	Pourcentage d'investissement
Technologie 5G	37%
Semi-conducteur sans fil	28%
Connectivité avancée	22%
IA et apprentissage automatique	13%

Fabrication et innovation des puces semi-conductrices

Revenu total des semi-conducteurs: 44,2 milliards de dollars en 2023

• Emplacements de fabrication de puces primaires: San Diego, Californie et Taïwan
• Capacité de production annuelle des puces: environ 1,2 milliard d'unités
• Part de marché dans les chipsets mobiles: 48% à l'échelle mondiale

Licence de brevet et gestion de la propriété intellectuelle

Catégorie de brevet	Total des brevets
Communication sans fil	140,000+
Technologies 5G	26,000+
Familles de brevets actifs	8,500+

Recherche en 5G et technologies de communication mobile avancées

5G Investissement de recherche: 1,9 milliard de dollars en 2023

• Nombre de brevets 5G: 26 000+
• Déclaration de brevets essentiels de la 5G mondiale: 22,4%

Développement de solutions et de plates-formes réseau sans fil

Revenus de plate-forme sans fil: 12,3 milliards de dollars en exercice 2023

Type de plate-forme	Pénétration du marché
Plates-formes Snapdragon	62% du marché des smartphones
Solutions de connectivité IoT	35% du marché mondial
Plates-formes automobiles	Marché de la technologie automobile de 18%

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: Ressources clés

Portefeuille de brevets étendus

Au quatrième trimestre 2023, Qualcomm détient environ 153 000 brevets accordés et en attente dans le monde. Le portefeuille de brevets est évalué à environ 50 milliards de dollars.

Catégorie de brevet	Nombre de brevets	Couverture géographique
Technologies de communication sans fil	65,432	Global (140+ pays)
Technologies 5G / 6G	22,567	Marchés technologiques majeurs
Conception de semi-conducteurs	45,321	Inscriptions internationales de brevets

Installations de recherche et de développement

Qualcomm a investi 8,876 milliards de dollars en R&D pour l'exercice 2023, ce qui représente 24,8% du total des revenus de l'entreprise.

• 6 principaux centres de R&D mondiaux
• Emplacements de recherche à San Diego, Californie (siège)
• Installations supplémentaires de R&D en Chine, en Inde, en Europe

Main-d'œuvre et capital humain

Le total des employés compte à partir de 2023: 51 000 professionnels

Catégorie des employés	Pourcentage	Nombre d'employés
Professionnels de l'ingénierie	68%	34,680
Chercheur	15%	7,650
Autres employés techniques	17%	8,670

Ressources financières

Mesures financières pour l'exercice 2023:

• Revenu total: 35,7 milliards de dollars
• Revenu net: 10,2 milliards de dollars
• Caisse et investissements: 21,3 milliards de dollars
• Investissement en recherche: 8,876 milliards de dollars

Actifs d'innovation technologique

Les principaux domaines de concentration technologique comprennent la 5G, les chipsets d'IA, les technologies automobiles et la conception de semi-conducteurs sans fil.

Segment technologique	Investissement annuel	Inscriptions aux brevets
Technologies 5G	3,2 milliards de dollars	22,567
IA et apprentissage automatique	1,5 milliard de dollars	12,345
Technologies automobiles	1,1 milliard de dollars	8,900

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: propositions de valeur

Technologies de communication sans fil de pointe et de semi-conducteurs

Qualcomm génère 44,2 milliards de dollars de revenus annuels en 2023, avec 97% des revenus tirés des innovations technologiques sans fil.

Catégorie de technologie	Part de marché	Contribution annuelle des revenus
Chipset mobile	62%	27,4 milliards de dollars
Technologies 5G	48%	21,3 milliards de dollars

Chipsets et modems mobiles hautes performances

• La série Snapdragon génère 19,6 milliards de dollars par an
• Couvre 85% du marché mondial des processeurs de smartphones
• Prend en charge plus de 1,5 milliard de connexions d'appareils dans le monde

Solutions sans fil 5G et de nouvelle génération avancées

Qualcomm détient 140 000 brevets mondiaux de technologie sans fil, avec des brevets 5G représentant 37% du portefeuille total.

Segment technologique 5G	Valeur marchande mondiale	Position du marché Qualcomm
Infrastructure sans fil	12,5 milliards de dollars	Fournisseur de technologie de premier plan
Technologie du modem smartphone	8,7 milliards de dollars	Dominance du marché à 92%

Technologies de connectivité mobile robustes et efficaces

Qualcomm investit 5,6 milliards de dollars par an dans la recherche et le développement des technologies de connectivité.

• Couverture technologique Wi-Fi 6 et 6E
• Bluetooth 5.2 Implémentations avancées
• Solutions de connectivité informatique de bord

Propriété intellectuelle des télécommunications innovantes

Qualcomm génère 8,3 milliards de dollars à partir des licences de droits de propriété intellectuelle par an.

Catégorie IP	Revenus de licence annuelle	Impact technologique mondial
Brevets de communication sans fil	6,2 milliards de dollars	Utilisé dans 90% des appareils mobiles
IP de conception de semi-conducteurs	2,1 milliards de dollars	Mis en œuvre dans plus de 150 pays

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: relations clients

Services de support technique et de conseil

Qualcomm fournit un support technique complet via plusieurs canaux:

Centres de soutien mondiaux	5 emplacements principaux
Personnel de soutien technique annuel	1 200+ professionnels dévoués
Temps de réponse moyen	4-6 heures
Revenus de conseil technique annuel	387 millions de dollars

Développement et personnalisation des produits en cours

L'approche de personnalisation des produits de Qualcomm comprend:

• Solutions de semi-conducteurs sur mesure
• Technologies de modem 5G adaptatives
• Conceptions de chipset personnalisées pour des segments de marché spécifiques

Investissement en R&D dans la personnalisation	5,9 milliards de dollars en 2023
Demandes de conception personnalisées chaque année	427 projets uniques

Engagement direct avec les entreprises de télécommunications

Qualcomm entretient des relations stratégiques avec les principaux fournisseurs de télécommunications:

Nombre de partenaires mondiaux de télécommunications	87 entreprises de télécommunications
Réunions collaboratives annuelles	213 séances d'engagement stratégique
Revenus de partenariat de télécommunications	2,3 milliards de dollars en 2023

Programmes et ressources de soutien aux développeurs

Qualcomm offre un vaste support d'écosystème des développeurs:

• Plateforme de développeur Snapdragon
• Documentation en ligne et ressources SDK
• Conférences et ateliers de développeurs

Développeurs enregistrés	436 000 à l'échelle mondiale
Budget de soutien annuel des développeurs	127 millions de dollars

Mises à jour et améliorations de la technologie régulières

Qualcomm mette systématiquement les offres technologiques:

Fréquence de mise à jour technologique	Sormes de plate-forme trimestrielle
Investissements annuels d'amélioration de la technologie	6,2 milliards de dollars
Dossiers de brevet liés aux mises à jour	1 247 nouveaux brevets en 2023

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: canaux

Équipe de vente directe pour les clients des entreprises et des télécommunications

Qualcomm entretient une force de vente directe mondiale de 8 700 employés dédiée à l'engagement des clients des entreprises et des télécommunications au quatrième trimestre 2023.

Région de vente	Nombre de représentants des ventes directes
Amérique du Nord	3,200
Asie-Pacifique	2,900
Europe, Moyen-Orient, Afrique	1,800
l'Amérique latine	800

Plateformes de produits et technologies en ligne

Qualcomm exploite plusieurs plateformes numériques avec les mesures suivantes:

• Le site Web Qualcomm.com reçoit 1,2 million de visiteurs uniques mensuellement
• Le portail des développeurs accueille 450 000 développeurs de technologies enregistrées
• Catalogue de produits en ligne avec 127 solutions technologiques distinctes

Conférences de technologie et événements de l'industrie

Type d'événement	Participation annuelle	Préstance à l'événement moyen
Conférences technologiques mondiales	18	5 600 participants
5G Innovation Summits	12	3 200 participants
Ateliers de développeur	45	1 800 participants

Partenariats stratégiques avec les fabricants d'appareils

Qualcomm entretient des partenariats stratégiques avec 87 fabricants d'appareils mondiaux dans les secteurs des smartphones, de l'automobile et de l'IoT.

• Top 5 des partenaires de fabrication d'appareils stratégiques:
  • Samsung Electronics
  • Xiaomi Corporation
  • Groupe Lenovo
  • Oppo
  • Vivo

Canaux de marketing numérique et de communication technique

Canal numérique	Compte de suiveurs / d'abonnés	Engagement mensuel
Liendin	1,4 million de followers	380 000 interactions mensuelles
Gazouillement	890 000 abonnés	210 000 interactions mensuelles
Canal technique YouTube	450 000 abonnés	95 000 vues mensuelles

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: segments de clientèle

Fabricants de smartphones

Qualcomm sert les principaux fabricants de smartphones dans le monde avec ses plates-formes mobiles Snapdragon.

Top fabricants de smartphones	Part de marché
Samsung	21.8%
Pomme	19.5%
Xiaomi	13.5%
Oppo	9.7%
Vivo	8.2%

Opérateurs de réseaux de télécommunications

Qualcomm fournit des solutions technologiques 5G aux opérateurs mondiaux de télécommunications.

• AT&T
• Verizon
• T-mobile
• Chine mobile
• Vodafone

Fabricants d'appareils mobiles

Qualcomm fournit des chipsets et des technologies sans fil pour divers fabricants d'appareils mobiles.

Catégorie d'appareil	Expéditions annuelles
Smartphones	1,38 milliard d'unités
Comprimés	163,5 millions d'unités
Portables	530 millions d'unités

Les entreprises technologiques développant des solutions sans fil

Qualcomm collabore avec les entreprises technologiques développant des innovations sans fil.

• Éricson
• Nokia
• Huawei
• Intel

Utilisateurs de technologies de communication d'entreprise et industrielle

Qualcomm fournit des technologies sans fil avancées pour les applications d'entreprise et industrielles.

Segment de l'industrie	Adoption de la technologie sans fil
Fabrication	42%
Soins de santé	35%
Transport	28%
Agriculture	19%

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: Structure des coûts

Dépenses de recherche et développement approfondies

Pour l'exercice 2023, Qualcomm a déclaré des dépenses totales de R&D de 6,275 milliards de dollars, ce qui représente 22,6% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	6,275 milliards de dollars	22.6%
2022	5,893 milliards de dollars	21.3%

Investissement élevé dans l'innovation technologique

L'investissement technologique de Qualcomm se concentre sur les technologies 5G, AI et Semiconductor.

• 5G Investissement de recherche: environ 1,8 milliard de dollars par an
• Développement de l'IA et de l'apprentissage automatique: environ 750 millions de dollars par an
• R&D semi-conducteur avancé: environ 2,5 milliards de dollars par an

Coûts de fabrication et de production

Les coûts de fabrication de Qualcomm pour les composants de la technologie semi-conducteurs et sans fil.

Catégorie de coûts	Dépenses annuelles
Fabrication de puces	3,2 milliards de dollars
Bafouille	1,5 milliard de dollars
Approvisionnement des composants	1,1 milliard de dollars

Frais de développement des brevets et d'entretien

Qualcomm entretient un vaste portefeuille de brevets avec un investissement annuel important.

• Frais de dépôt de brevets: 250 millions de dollars par an
• Frais d'entretien des brevets: 180 millions de dollars par an
• Support juridique de propriété intellectuelle: 150 millions de dollars par an

Opération et frais généraux mondiaux et administratifs

Les dépenses opérationnelles mondiales de Qualcomm dans plusieurs régions.

Catégorie de dépenses	Coût annuel
Frais administratifs mondiaux	1,4 milliard de dollars
Infrastructure opérationnelle	900 millions de dollars
Entretien des bureaux internationaux	450 millions de dollars

Qualcomm Incorporated (QCOM) - Modèle d'entreprise: Strots de revenus

Ventes de puces semi-conductrices

Qualcomm's T4 2023 Ventes de puces semi-conductrices: 8,97 milliards de dollars

Catégorie de produits	Revenus (Q4 2023)
Plates-formes mobiles Snapdragon	4,63 milliards de dollars
Chips frontaux RF	1,84 milliard de dollars
Solutions de semi-conducteurs automobiles	492 millions de dollars

Frais de licence de brevet

Revenus de licences de brevet pour le quatrième trimestre 2023: 1,42 milliard de dollars

• Licence de technologie 3G / 4G / 5G
• Brevets essentiels standard sans fil
• Accords de licence mondiaux avec les fabricants de smartphones

Redevances technologiques

Revenus de redevances en technologie totale en 2023: 5,68 milliards de dollars

Source de redevance	Revenus annuels
Fabricants de smartphones	4,12 milliards de dollars
Royalités de l'appareil IoT	762 millions de dollars
Royalités de la technologie automobile	386 millions de dollars

Solutions technologiques mobiles

Revenus de solutions de technologie mobile pour 2023: 6,24 milliards de dollars

• Solutions d'infrastructure réseau 5G
• Plates-formes informatiques mobiles
• Technologies de connectivité sans fil

Services de conseil en technologies de communication sans fil

Revenus de services de conseil en 2023: 340 millions de dollars

Type de service de conseil	Revenu
Conseil de conception de réseau	156 millions de dollars
Services de mise en œuvre de la technologie	114 millions de dollars
Conseil de stratégie technologique sans fil	70 millions de dollars

QUALCOMM Incorporated (QCOM) - Canvas Business Model: Value Propositions

You're looking at the core value Qualcomm Incorporated delivers to its customers and the market as of late 2025. It's about more than just chips; it's about enabling the next generation of intelligent, connected experiences across multiple industries. Honestly, their strategy hinges on owning the platform layer for these shifts.

Intelligent Computing Everywhere: Delivering on-device AI and high-performance, low-power computing

This is where Qualcomm is pushing hard, especially with the Snapdragon 8 Elite Gen 5 for mobile and the X2 Elite series for PCs. They are making a clear play to be the platform of choice for on-device Artificial Intelligence (AI). The goal is to move complex processing off the cloud and onto the device itself for better privacy and responsiveness. You see this commitment reflected in the silicon specs.

Here's the quick math on the latest silicon performance:

• The Snapdragon X2 Elite Neural Processing Unit (NPU) delivers up to 80 TOPS (Tera Operations Per Second) of compute power for PCs.
• The Snapdragon 8 Elite Gen 5 NPU shows up to a 46% improved performance over its predecessor.
• The Snapdragon 8 Gen 5 Mobile Platform offers a 36% performance improvement versus the prior generation.
• Web browsing responsiveness on the 8 Gen 5 is up by 76%.
• For PC users, 93% of their time is now spent on native applications, with over 50 NPU-powered features available.

Wireless Technology Leadership: Pioneering 5G and next-generation wireless standards

Qualcomm Incorporated's foundation remains its deep intellectual property in wireless, owning patents critical to standards like 5G, 4G, and WCDMA. They aren't just resting on 5G, though; they are already pushing the envelope with their latest modem-RF systems. This leadership is what underpins their licensing revenue stream, QTL, which remains a high-margin business.

For instance, the Snapdragon X85 5G Modem-RF platform, which was introduced, is designed to deliver download speeds exceeding 10 Gbps, hitting up to 12.5 Gbps, with upload speeds of 3.7 Gbps. To give you context on the market they are driving, the global 5G chipset market was projected to be worth USD 43.87 billion in 2025.

Snapdragon Digital Chassis: Comprehensive platform for connected and autonomous vehicles

The automotive segment is the company's fastest-growing vertical, validating their diversification strategy away from being solely mobile-dependent. The Snapdragon Digital Chassis is the umbrella for their cockpit, connectivity, and ride/ADAS (Advanced Driver-Assistance Systems) solutions. Automakers are choosing this platform to simplify sourcing and own the end-to-end user experience, moving away from traditional fixed-feature boxes.

The financial results show this momentum clearly. Check out the automotive revenue growth across the fiscal year:

Fiscal QTR 2025	Automotive Revenue (Millions USD)	Year-over-Year Growth
Q1	$961	61%
Q2	$959	59%
Q3	$984	21%
Q4	$1,050 (Record High)	17%

For the full fiscal year 2025, the combined Automotive and IoT revenue growth reached 27% year-over-year. Furthermore, the company is executing on long-term design wins, with 29 commercial vehicle launches utilizing the Digital Chassis since the start of the fiscal year, supporting a target of $8 billion in automotive revenue by 2029.

Power Efficiency: Commitment to reducing power consumption by 10% annually in flagship chips

Power efficiency isn't just a feature; it's a stated corporate responsibility target and a key performance metric for their flagship silicon. The commitment was to reduce power consumption by 10% annually in flagship Snapdragon Mobile Platform products. We see evidence of this goal being met in the latest product announcements, which is defintely important for battery life.

For example, the Snapdragon X2 Series chips claim a more than 10% chipset power reduction across common day-to-day scenarios like web browsing and streaming. Also, architectural refinements, like the Adreno GPU's new High-performance Memory (HPM) acting as a fast cache, reduce memory bandwidth by 30%-40%, leading to a 10%-15% improvement in battery life specifically for gamers.

Complete System Solutions: Providing integrated chipsets, software, and RF front-end (RFFE)

Qualcomm Incorporated's value proposition is the integration of hardware and software into a complete stack, which is evident in their QCT (Qualcomm CDMA Technologies) segment performance. This segment, which includes chipsets, is the engine of their product revenue. For the full fiscal year 2025, total GAAP revenue reached $44.3 billion, with Non-GAAP revenue at $44.284 billion.

The QCT segment delivered record fiscal year revenues, with the latest reported quarterly revenue (Q4 FY25) hitting $11.270 billion. This is supported by the high-margin licensing business (QTL), which posted a Q4 FY25 revenue of $1.41 billion and maintained a strong EBT margin of 72%. The PC market is also a focus for this system solution approach, with over 85 Snapdragon X-powered PC designs in development, targeting $4 billion in PC revenue by 2029.

QUALCOMM Incorporated (QCOM) - Canvas Business Model: Customer Relationships

You're looking at how QUALCOMM Incorporated manages its relationships with the entities that buy its chips and pay for its patents as of late 2025. It's a dual-engine approach: selling silicon (QCT) and collecting recurring fees (QTL).

Strategic OEM Engagement: Deep, long-term technical collaboration with major customers like Samsung and Apple.

The relationship with top-tier Original Equipment Manufacturers (OEMs) is foundational, especially for premium-tier smartphone platforms. QUALCOMM Incorporated's business model shows a clear concentration among its largest customers.

For the fiscal year ending September 28, 2025, revenues from Apple, Samsung, and Xiaomi each comprised 10% or more of consolidated revenues. This level of reliance means these relationships are managed at the highest levels, involving deep technical collaboration on next-generation Snapdragon platforms, such as the Snapdragon 8 Elite Gen 5 mobile platform introduced in September 2025.

The QTL segment, which manages licensing, also saw key relationship milestones in FY2025. During the second quarter of fiscal 2025, QUALCOMM executed final agreements for new long-term licenses with two key Chinese OEMs whose initial terms had expired, and entered into comprehensive 4G and 5G license agreements with Transsion. Conversely, QTL revenues for FY2025 did not include royalties from Huawei, as that license agreement expired.

Dedicated Sales Teams: Direct sales and engineering support for large-volume customers (QCT).

The QCT segment relies on direct engagement to drive volume, particularly in premium Android handsets, automotive, and IoT. The success in handsets is directly tied to the volume of devices shipped using Snapdragon platforms.

For the full fiscal year 2025, QCT achieved record annual revenues of approximately $38.4 billion. The Handsets unit, a key area for direct OEM sales, posted Q4 FY25 revenue of $6.96 billion, showing a 14% year-over-year growth. The company is focused on maintaining this momentum, anticipating record QCT handset revenues with low teens percentage growth sequentially in Q1 FY26, driven by new flagship Android launches.

The diversification strategy is supported by dedicated teams focused on non-handset areas:

• Total QCT non-Apple fiscal year revenues grew 18% year-over-year in FY2025.
• Combined QCT Automotive and IoT fiscal year revenue growth reached 27% in FY2025.
• Automotive revenue for Q4 FY25 exceeded $1 billion.
• IoT revenue for Q4 FY25 was $1.81 billion, a 7% year-over-year increase.

Licensing Program Management: Legal and business teams managing the global QTL royalty structure.

The QTL segment is the high-margin engine, managed by legal and business teams ensuring compliance and collection across the global licensee base. The structure is primarily based on per-unit royalties from sales of OFDMA-based products.

The financial performance of this relationship management is starkly different from the product sales segment. For fiscal 2025, QTL EBT as a percentage of revenues was 72%, compared to QCT's EBT margin of 30% in Q4 FY25.

Here's a look at the QTL revenue performance across recent quarters in fiscal 2025:

Metric	Q1 FY2025	Q4 FY2025	FY2025 (Annual)
Licensing Revenues (in billions)	$1.5	$1.41	Approximately flat vs. FY2024
EBT Margin	75%	72%	72%

The company is guiding for Q1 FY26 QTL revenues in the range of $1.4 billion-$1.6 billion with EBT margins between 74%-78%.

Developer Ecosystem: Providing software tools and AI Hub for third-party developers.

Customer relationships extend to the software and application developers who build on QUALCOMM Incorporated's platforms, especially critical for the new AI-centric computing push. This is evident in the PC space with the Snapdragon X processors.

The Snapdragon X Elite features a Qualcomm Hexagon NPU delivering 45 TOPS (Trillions of Operations Per Second) of performance. The company is actively building out the ecosystem to support this hardware, which is designed to power Copilot+ PCs targeting the $600 price point.

The expansion of the Snapdragon ecosystem is quantified by the number of designs powered by the platforms:

• Snapdragon platforms powered 124 designs in handsets in Q3 2025.
• Snapdragon platforms powered 19 designs in XR devices in Q3 2025.

To enhance developer support, QUALCOMM has made strategic acquisitions, such as the agreement to acquire Alphawave Semi, a specialist in high-speed connectivity for AI and data infrastructure, with an enterprise value of approximately $2.4 billion.

Channel Partner Support: Doubling funding and expanding teams for the Snapdragon X PC channel.

To drive adoption of Snapdragon X Series in the PC market against Intel and AMD, QUALCOMM Incorporated has made significant, quantifiable investments in its channel relationships, moving from a direct-only model to a robust partner network.

In 2025, the company is doubling partner funding and quadrupling the size of its global commercial channel team. This effort aims to expand the partner roster to more than 100 global commercial channel partners in 2025, up from 40 partners in 12 regions the prior year, and just 13 partners in five regions before that. This investment is critical to the goal of making Snapdragon X-powered PCs available as low as $700 in 2025.

The engagement is translating into direct sales activities:

Channel partners executed more than 400 channel-led proofs of concept in the first two quarters of product availability for the Snapdragon X Series.

The company expects about 40-50% of unit sales in the PC market to come from the commercial segment by fiscal 2029, making these channel relationships super important to the goal of making $4 billion in revenue from PC processors by 2029.

Finance: draft 13-week cash view by Friday.

QUALCOMM Incorporated (QCOM) - Canvas Business Model: Channels

You're looking at how QUALCOMM Incorporated moves its silicon and intellectual property to the market, which is a dual-engine approach: selling chips (QCT) and collecting royalties (QTL). The scale of the QCT segment in fiscal 2025, generating $38.37 B in revenue, shows the sheer volume moving through these channels, representing 87.3% of the total revenue, while QTL brought in $5.58 B.

Direct Sales Force

The direct sales force is critical for the high-volume, high-value QCT segment, especially with major global Original Equipment Manufacturers (OEMs). This channel is where the bulk of the $38.37 B QCT revenue originates.

The concentration of revenue here is notable; in fiscal 2025, revenues from Apple, Samsung, and Xiaomi each comprised 10% or more of QUALCOMM Incorporated's consolidated revenues. This means direct engagement with these top-tier partners is paramount for handset chip sales, which saw Q4 FY25 revenue of $6.96 B. The Automotive segment, which posted Q4 FY25 revenue of $1.05 B, also relies heavily on direct sales to secure design wins for the Snapdragon Digital Chassis.

Technology Licensing (QTL)

The QTL channel is the high-margin, cash-generative side, collecting per-unit royalties based on the wholesale selling price of licensed products. This segment is less about direct product movement and more about IP enforcement and collection, evidenced by its strong Q4 FY25 EBT margin of 72%. The revenue scales as more devices, even those not using QUALCOMM Incorporated chips, incorporate cellular standards covered by the company's essential patents.

Global Distributors

For the smaller, more fragmented Internet of Things (IoT) and industrial customers, global distributors are the necessary conduit. While specific distributor revenue figures aren't broken out, the IoT segment within QCT is a significant channel, generating $1.81 B in Q4 FY25 revenue. QUALCOMM Incorporated's strategy here involves providing a broad portfolio, like the Dragonwing products, that can be customized and distributed through these established channels to address the highly fragmented IoT market.

Commercial Channel Partners

The push into the PC market with Snapdragon X processors has necessitated a rapid scaling of the commercial channel. This is a new, aggressive focus area for QUALCOMM Incorporated.

Here's a look at the channel expansion metrics for the Snapdragon X launch:

Metric	FY2024 End (Approx.)	FY2025 Target/Actual
Global Commercial Channel Partners	13 partners in 5 regions	Scaling to 100+ partners across all regions
Channel Campaigns Launched (June-Dec Last Year)	N/A	Over 36 campaigns
Business Customers Testing Snapdragon X PCs	N/A	Over 6,000
Total Commercial Customers Identified (Testing/Deploying)	N/A	14,000 unique customers
Consumer Channel Partners (Snapdragon X)	N/A	45 partners in 20 countries

The company is making a massive commitment to this channel, doubling partner funding and quadrupling the size of its global commercial channel team in 2025. The goal is to convert those 14,000 testing customers into large fleet deployments, supporting a long-term revenue target of $4 billion from PC processors by fiscal 2029.

The reach is secured by design wins across every volume Windows notebook maker, including:

• Acer
• Asus
• Dell Technologies (e.g., Latitude)
• HP (e.g., EliteBook)
• Lenovo (e.g., ThinkPad)
• Microsoft Surface
• Samsung (e.g., Galaxy Book4)

There are now more than 30 device models available globally from these enterprise brands.

Back-end Manufacturing

While QUALCOMM Incorporated is primarily fabless, its supply chain channels involve strategic, owned facilities for critical post-silicon processes. The company's subsidiary, Quanxun RF Technology (Wuxi) Co., Ltd. in China, is specifically focused on back-end packaging and testing. Furthermore, RF360 Holdings Singapore Pte. Ltd. takes wafer processing technology developed elsewhere and realizes mass production. Singapore also hosts a test centre of excellence for design verification and failure analysis.

The global revenue distribution reflects this channel strategy, with a substantial 97% of consolidated revenues in Q1 2025 originating from international customers and licensees, with China alone contributing 49%.

Finance: draft 13-week cash view by Friday.

QUALCOMM Incorporated (QCOM) - Canvas Business Model: Customer Segments

You're looking at the core buyers for QUALCOMM Incorporated's technology as of late 2025. It's a diverse group, moving well beyond just phones, which is key to their current financial narrative.

Mobile Handset OEMs: Primarily premium-tier Android device manufacturers.

This remains the largest customer group, though diversification efforts are clearly paying off. In the fourth quarter of fiscal 2025, handset revenues hit $6.96 billion, marking a 14% year-over-year increase. This growth was specifically backed by solid traction in premium Android handsets powered by the Snapdragon 8 Elite Gen 5 platform. For the full fiscal year 2025, QUALCOMM Incorporated's total QCT (Qualcomm CDMA Technologies) revenue reached $38.4 billion. It's important to note that a small number of customers, specifically Apple, Samsung, and Xiaomi, each comprised 10% or more of consolidated revenues in fiscal 2025.

Automotive OEMs: Manufacturers adopting the Snapdragon Digital Chassis.

This segment is showing significant momentum, hitting a record high in the final quarter of fiscal 2025. Automotive revenues in Q4 FY2025 were in excess of $1 billion, specifically reported as a record high of $1.05 billion, a 17% rise year-over-year. For the entire fiscal year 2025, combined Automotive and IoT revenue growth was 27% year-over-year, with Automotive revenue growth specifically cited at 36% for the full year. The Snapdragon Digital Chassis platform is the engine here, bringing high-performance computing and connectivity to new vehicle launches.

IoT Device Makers: Across consumer (PCs, XR), industrial, and edge networking.

The Internet of Things (IoT) segment is another major growth driver, showing strong expansion in fiscal 2025. In Q4 FY2025, IoT revenues were $1.81 billion, up 7% year-over-year. This growth was fueled by solid demand for the Snapdragon AR1 chipset in the emerging AI smart glasses category. For the full fiscal year 2025, IoT revenue growth was 22% year-over-year.

Here's a quick look at the revenue contributions from the key growth areas in Q4 FY2025:

Customer Segment Focus	Latest Reported Quarterly Revenue (Q4 FY2025)	Year-over-Year Growth (Q4 FY2025)
Mobile Handset OEMs (Handsets)	$6.96 billion	14%
Automotive OEMs	$1.05 billion	17%
IoT Device Makers	$1.81 billion	7%

PC Manufacturers: OEMs adopting the Snapdragon X platform for AI PCs.

This is a newer, high-potential segment where QUALCOMM Incorporated is aggressively gaining ground against established competitors. As of late 2025, Snapdragon X chips were powering 10% of high-end Windows PCs in the United States (defined as devices priced above $800). This represents a significant jump from capturing only 0.8% of the entire PC market shortly after launch. QUALCOMM Incorporated has an ambitious target to capture 50% market share in the entire Windows PC market within five years. Over 80 PC models based on Snapdragon X chips were expected in 2025.

Network Infrastructure Providers: Utilizing connectivity and RFFE products.

While direct revenue figures for this specific customer group aren't broken out separately in the primary segment reporting, their needs are addressed within the broader QCT segment, which saw total non-Apple revenues grow 18% year-over-year in fiscal 2025. Growth in areas like Wi-Fi 7 access points and 5G fixed wireless solutions, which serve this infrastructure space, contributed to the overall IoT revenue strength.

The diversification strategy is clearly working; combined Automotive and IoT fiscal year revenues grew 36% and 22% year-over-year, respectively, for fiscal 2025.

• Fiscal 2025 total non-GAAP revenues for QUALCOMM Incorporated were $44 billion, up 13% year-over-year.
• QCT segment EBT margin was 30% in fiscal 2025, meeting the long-term target.
• Technology Licensing (QTL) revenues for fiscal 2025 were $5.58 billion, representing 12.7% of total revenue.
• QUALCOMM Incorporated generated $14.01 billion in net cash from operating activities in fiscal 2025.

QUALCOMM Incorporated (QCOM) - Canvas Business Model: Cost Structure

You're looking at the major outflows that keep QUALCOMM Incorporated running, the costs that directly offset the revenue from their chip sales and licensing deals. Honestly, for a company built on foundational IP, the cost structure is heavily weighted toward future innovation and defending the existing moat.

The most significant, recurring, and strategic cost is the investment in tomorrow's technology. This is a high fixed cost base, necessary to maintain technological leadership in wireless and computing.

Research and Development (R&D) Costs

QUALCOMM Incorporated's commitment to R&D is clear in the books. For the full fiscal year ending September 28, 2025, R&D expenses were substantial, reflecting ongoing work in AI, 5G Advanced, and automotive platforms.

Here are the key expense figures for the fiscal year 2025 (Year Ended September 28, 2025), based on GAAP reporting:

Cost Category	FY2025 Amount (in millions)	FY2025 Amount (in billions)
Research and Development (R&D)	$9,042	$9.042
Cost of Revenues (Cost of Equipment and Services)	$19,738	$19.738
Selling, General, and Administrative (SG&A)	$3,110	$3.110

The Cost of Revenues, which primarily covers wafer fabrication, assembly, and test costs for the QCT segment, represents the largest single expense category at $19,738 million for the full fiscal year 2025. This scales directly with chip volume.

Sales, General, and Administrative (SG&A)

SG&A expenses for fiscal 2025 totaled $3,110 million. This covers the necessary overhead, including marketing efforts to push new products like the Snapdragon X Elite Extreme CPU chip and channel expansion costs to support global sales.

Patent Litigation and Regulatory Expenses

While specific, recurring litigation expense figures aren't always broken out cleanly in the main statements, defending the QTL model is a constant cost driver. You saw a major event in late 2025 when QUALCOMM Incorporated achieved a complete victory over Arm in litigation challenging licensing agreements in September 2025, which validates the model but implies significant prior legal spend. Still, another separate lawsuit against Arm for breach of contract is ongoing, with an expected trial in March 2026.

These legal battles are not abstract; they are direct costs to protect the core revenue stream.

Non-Cash Tax Charge

A major, non-operational item hit the GAAP results in Q4 FY2025. This was a one-time, non-cash charge of $5.7 billion. This charge was established to create a valuation allowance against U.S. federal deferred tax assets due to new tax legislation, specifically the One Big Beautiful Bill Act.

The impact of this charge was:

• Resulted in a GAAP net loss of $3.117 billion for Q4 Fiscal 2025.
• Equated to a loss of $2.89 per share on a GAAP basis for the quarter.
• Was excluded from Non-GAAP metrics, which showed a positive EPS of $3.00 for the quarter.

Finance: draft 13-week cash view by Friday.

QUALCOMM Incorporated (QCOM) - Canvas Business Model: Revenue Streams

You're looking at how QUALCOMM Incorporated actually brings in the money, which is really about two main engines: selling the hardware and collecting the licensing fees. For fiscal year 2025, the total GAAP revenue hit $44.3 billion. This revenue is split between the two primary reportable segments: QCT and QTL.

The Equipment and Services segment, known as QCT (Qualcomm CDMA Technologies), is the workhorse, generating record fiscal year revenues of $38.367 billion in FY2025, which represented about 87.3% of total revenue. The Technology Licensing segment, QTL, brought in $5.582 billion, making up the remaining 12.7% of the total.

Here's a look at the full-year 2025 revenue breakdown by segment:

Segment	FY2025 Revenue (in billions)	Percentage of Total Revenue
QCT (Equipment and Services)	$38.367	87.3%
QTL (Technology Licensing)	$5.582	12.7%

The QCT segment itself is disaggregated based on where the chipsets and platforms are sold. This is where you see the direct sales of their Snapdragon and Dragonwing platforms, modems, and RF front-end products. The growth in QCT for FY2025 was largely driven by higher handsets revenue, better average selling prices, and increased shipments from major OEMs for premium-tier Snapdragon platforms.

The revenue streams within QCT for the full fiscal year 2025 were:

• Equipment and Services (QCT): Sales of chipsets and platforms, totaling $38.367 billion in FY2025.
• Handsets Revenue: This is the largest QCT component, reaching $27.793 billion, up 12 percent year-over-year.
• IoT Revenue: Sales from consumer, industrial, and edge networking devices, which hit $5.423 billion, showing 22 percent growth.
• Automotive Revenue: This fast-growing segment reached $3.957 billion, marking a 36 percent increase from the prior year.

It's important to note the diversification success; the combined fiscal year Automotive and IoT revenue growth was 27% year-over-year. The Automotive segment specifically saw its revenue reach $3.957 billion.

The Technology Licensing (QTL) revenue stream is based on royalty payments on wireless IP, primarily from licensees' sales of 4G and 5G devices. For fiscal year 2025, QTL generated $5.582 billion. QTL EBT margin for the year was strong, reported at 71% in Q3 FY25, showing the high-margin nature of this business.

To be fair, the growth rates varied across the year; for instance, Q3 FY2025 showed Automotive revenue up 21% to $984 million and IoT up 24% to $1.681 billion, while the full-year figures show stronger overall growth. The full-year results confirm the strategic pivot: QCT non-Apple revenues grew 18% year-over-year.

You can see the full-year 2025 QCT components here:

QCT Revenue Stream	FY2025 Revenue (in millions)	Year-over-Year Growth
Handsets	$27,793	+12%
IoT	$5,423	+22%
Automotive	$3,957	+36%

Finance: draft 13-week cash view by Friday.