(Yicai Global) June 20 -- Qualcomm has confidence in China’s stable economic development and will invest more in the market, according to the head of the US chipmaker’s China business.
Qualcomm has been participating in the development of fifth-generation technology in China over the past two years and hopes to generate more application scenarios, Meng Pu told Yicai Global during the Qingdao Multinationals Summit that kicked off in Qingdao, Shandong province, on June 19.
Excerpts from the exclusive interview appear below.
Yicai Global: There is much uncertainty at the moment. As a representative of Qualcomm, do you have confidence in the continuous growth of the Chinese economy? What investment plans do you have for China?
Meng Pu: Qualcomm is optimistic about the steady development of China in the long term. China is the world’s largest consumer market, with years of accumulation of technology, capital and talent, and many technology applications have good prospects in the country, we believe.
From 2019 to now, our annual investment in China, including personnel expansion, has maintained double-digit growth, with an average annual increase of about 20 percent. We maintain confidence in the Chinese market, as well as the development of Qualcomm in China.
With the advancement of 5G, we will invest more in China and have more opportunities to establish cooperation in the country.
YG: What new changes have there been with 5G in recent years, in terms of application scenarios and the industry?
Meng: 5G has brought technical and revolutionary changes. The transmission speed is much faster than before, so it can realize applications in various sectors, especially industrial applications, which was impossible previously. The fourth generation did not support the metaverse, extended reality, augmented reality or virtual reality. 5G is necessary for these.
In industrial applications, the country has also been promoting the use of 5G in various areas, including 5G + smart mining and 5G + smart ports. In the past two years, we have also been participating in this, enabling 5G to be applied to different sectors and spawning more scenarios. This will enable consumers to enjoy the benefits of 5G and will also create greater economic returns.
YG: What are the problems in the process of integrating 5G with industries, and what solutions do you have?
Meng: There is a process that needs to be followed. 5G and industries need to learn from each other. In traditional industries, most manufacturers and individual 5G promoters are not familiar with its application. They have little experience of how to use mobile communications technology to make their work more efficient and reflect economic value, so cooperation between different industries is needed.
YG: It has been said that 6G needs to be commercially available by 2030. Is it too early for us to discuss sixth-generation technology?
Meng: It is not too early to talk about 6G. There may be large obstacles to applying it in the next four to five years, so its application will continue to be delayed. Based on our own experience, almost every generation of technology has needed more than 10 years of development before its application. Therefore, it is possible that 6G can be commercially available by 2030.
Editor: Tom Litting