Riding on strong performance in its chipset and licensing business, chip-maker Qualcomm has reported record revenue of $10.7 billion in its December quarter of 2021.

According to Cristiano Amon, President, and CEO of Qualcomm Incorporated, the chipset business had its second consecutive quarter of record performance with $8.8 billion in revenue.

“We are at the beginning of one of the largest opportunities in our history, with our addressable market expanding by more than seven times to approximately $700 billion in the next decade,” Amon said in a statement late on Wednesday.

“Our one technology roadmap positions us as the partner of choice for both mobile and the connected intelligent edge,” he added.

In the Internet of Things (IoT), Qualcomm continues to see strong momentum with revenue growth of 41 percent (year over year) across consumer, edge networking, and industrial.

“In consumer IoT, our early investments, collaboration with Microsoft, and the recent acquisition of NUVIA uniquely positions us to drive the PC industry transition to ARM-based computing for next-generation connected laptops,” said the company CEO.

At the recently-held CES 2022, the company highlighted broad support from ecosystem partners, including Acer, ASUS, HP, Lenovo, and Microsoft, as well as 200 enterprise customers currently testing or deploying Windows on Snapdragon laptops in two-in-one devices.

“We’re also seeing strong growth in premium and high-tier Android tablets, further highlighting the convergence of mobile and PC,” Amon said.

Additionally, as the metaverse opportunity materializes, “we continue to build on our industry leadership position in VR and AR devices with key ecosystem players, including Meta and Microsoft”.

At CES, Qualcomm announced a collaboration with Microsoft to expand and accelerate the adoption of augmented reality in both the consumer and enterprise sectors.

In handsets, the company recently announced its most advanced 5G mobile platform for flagship smartphones, the Snapdragon 8 Gen 1.

“The new chip leads the way to a new era of premium mobile technology with category-defining enhancements across modem RF, camera, AI, gaming, security, and more. Snapdragon 800 Gen 1 is the world’s first 5G modem RF solution to reach 10-gigabit download speeds,” said Amon.

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