Qualcomm Incorporated (qcom) 51st Annual J.p. Morgan Global Technology, Media And Communications Conference (transcript)

Akash Palkhiwala, CFO of QUALCOMM, discussed the smartphone market and the impact of the pandemic on consumer upgrade cycles. He noted that the market saw a reduction in 2020 due to COVID, but has since seen a recovery, with people upgrading their phones at significant rates. He also noted that the recovery has been focused on services spend in developed markets, and that the next upgrade cycle is expected to be in 2024-2025.