Qualcomm Inc. President and CEO Cristiano Amon speaks during the company's press event for CES 2022 at the Mandalay Bay Convention Center on January 4, 2022 in Las Vegas, Nevada.
The CEO of U.S. chip giant Qualcomm thinks artificial intelligence could give the smartphone market a fresh lease on life.
"The [Snapdragon] Summit is going to be around incredible use cases that we're seeing from our OEMs [original equipment manufacturers] and phones and ... could create a new upgrade cycle for phones."
Smartphone sales have depreciated this year as consumers have gotten a lot more cost-conscious.
In 2022, global smartphone sales tumbled 11.3% year-over-year to 1.21 billion, the lowest level since 2013, according to data from market research firm IDC.
Persons:
Cristiano Amon, CNBC's Arjun Kharpal, Amon
Organizations:
Qualcomm Inc, Mandalay Bay Convention, CES, Qualcomm, Summit, IDC
Locations:
Mandalay Bay, Las Vegas , Nevada