Qualcomm’s CEO on the coming AI phone supercycle

Amon bets AI agents will drive a phone upgrade super cycle, with Qualcomm positioning hardware across phones, glasses, data centers, and open AI software via Modular.

• Smartphone market dynamics: Units are down ~20% this year mainly due to memory prices rising 5-6x, not falling demand; the premium tier keeps expanding yearly as AI shifts more workloads to phones.
• AI smartphone defined: Amon says the concept crystallized with OpenAI's agent products, where phones hold personal context/memory graphs locally and route tasks to cloud or device — not just built-in chatbots like Siri or Gemini.

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