Qualcomm said on Tuesday that it expects $22 billion in combined revenue over the next five years from laptops, cars and other products outside its current stronghold in smartphones, a sharp growth from the latest fiscal year.

Qualcomm is aiming to become a big player in personal-computer chips, setting a target of $4 billion of revenue from that business in about five years' time. Qualcomm’s chips for laptops—a market where it competes with Intel and Apple—launched this summer.

Qualcomm said at its investor day on Tuesday that it expects its so-called internet of things business to more than quadruple in sales by 2029 to around $22 billion. CEO Cristiano Amon took over Qualcomm in 2021 with a promise to diversify the company away ...

Qualcomm expects $8 billion in automotive chip revenue and $4 billion in PC chip sales by fiscal 2029, it said at an investor event held in New York on Tuesday. San Diego, California-based Qualcomm is the world's top supplier of mobile phone chips that connect handsets to mobile data networks.

Qualcomm CEO Cristiano Amon does not foresee problems competing for business in China, which accounts for 46 per cent of company revenue.