# Qualcomm Showcases New Snapdragon 8 Elite Chip and Partnerships with Meta
Qualcomm, a worldwide frontrunner in wireless technology and semiconductor development, has concluded its fiscal year 2024 on a positive note, showcasing remarkable growth across various sectors. In Q4 2024, the company’s revenue hit $10.2 billion, reflecting a 12% rise compared to the same quarter in 2023. This elevates Qualcomm’s total revenue for the fiscal year to $39 billion, an increase of 9% over the last year. The company’s achievements are fueled by its growing foothold in mobile, automotive, and industrial IoT markets, alongside strategic alliances, including collaborations with Meta.
## Snapdragon 8 Elite: Qualcomm’s Cutting-Edge Chip
A key highlight of Qualcomm’s recent updates is the introduction of its newest mobile chipset, the **Snapdragon 8 Elite**. This latest chip is already gaining attention in the smartphone market, with leading Android OEMs such as Xiaomi, OPPO, OnePlus, Honor, and Vivo integrating it into their flagship models. Qualcomm CEO Cristiano Amon shared his enthusiasm regarding the momentum that the Snapdragon 8 Elite is garnering, emphasizing that it prepares the company for a robust beginning to fiscal year 2025.
The Snapdragon 8 Elite is crafted to provide state-of-the-art performance, especially in fields such as AI, gaming, and camera innovations. It is anticipated to drive the next generation of premium smartphones, delivering users quicker processing speeds, enhanced battery efficiency, and advanced AI functionalities. Qualcomm’s CFO, Akash Palkhiwala, pointed out that the uptake of the Snapdragon 8 Elite by Chinese OEMs and the rapid rollout of flagship Android devices will positively influence the company’s revenue in Q1 2025.
## Significant Growth in Automotive and IoT Sectors
Although Qualcomm’s mobile chipset division remains a primary revenue source, the company has observed notable growth in other areas. Its **automotive solutions** segment, in particular, saw an extraordinary 68% revenue surge in Q4 2024. This escalation is primarily attributed to the rising demand for Qualcomm’s **Snapdragon Cockpit Elite** and **Snapdragon Ride Elite** platforms, which are engineered to provide AI-enhanced experiences in in-car entertainment, navigation, and safety technologies.
Qualcomm’s automotive initiatives are likely to keep gaining traction in 2025, as more automotive manufacturers adopt its sophisticated technologies for connected and autonomous vehicles. The firm’s leadership in automotive AI solutions positions it favorably for future expansion in this rapidly transforming industry.
## Partnership with Meta: Advancing into AR/VR
Another crucial component of Qualcomm’s strategy is its collaboration with **Meta** (formerly Facebook) in the augmented reality (AR) and virtual reality (VR) domains. Qualcomm’s **Snapdragon XR** platform powers Meta’s newest VR headset, the **Meta Quest 3S**, which was unveiled recently. Amon referred to the Quest 3S as a “significant milestone” in broadening the potential opportunities in the AR/VR landscape.
The alliance with Meta emphasizes Qualcomm’s dedication to diversifying its product offerings beyond mobile and automotive. By capitalizing on its expertise in AI and wireless technologies, Qualcomm aspires to establish itself as a key player in the expanding AR/VR market, which is predicted to see greater adoption in gaming, entertainment, and enterprise sectors.
## Future Outlook: 2025 and Beyond
Looking forward to fiscal year 2025, Qualcomm holds an optimistic view of its prospects across various industries. The Snapdragon 8 Elite is projected to stimulate strong sales in the mobile arena, especially as additional Android OEMs debut flagship devices powered by the chip. Anticipated launches from ASUS and Samsung are also expected to bolster Qualcomm’s growth; however, there have been speculations that certain **Samsung Galaxy S25** models might opt for Samsung’s **Exynos** chips over Qualcomm’s Snapdragon.
Besides its mobile and automotive focuses, Qualcomm is working to enhance its position in the **industrial IoT** space, utilizing its technologies to enable smart factories, logistics systems, and connected infrastructure. The company’s stature in 5G and AI positions it advantageously to benefit from the increasing demand for interconnected devices and intelligent systems across various industries.
## Conclusion
Qualcomm’s robust performance in fiscal year 2024 underscores its capacity for innovation and adaptation in response to shifting market landscapes. The debut of the Snapdragon 8 Elite, combined with its expanding presence in the automotive and AR/VR arenas, sets the stage for further success in 2025 and beyond. With strategic collaborations like the one with Meta and a commitment to diversification, Qualcomm is well-equipped to uphold its standing in the semiconductor sector while pursuing new growth avenues across multiple industries.
