Within five years, half the handsets sold will be smart phones, according to industry projections, and emerging market customers will be a big part of that trend, Paul Jacobs CEO and chairman of computer chip-maker Qualcomm, told CNBC Tuesday.
“Going forward there will be an impact to traditional computing forms as people use the phones as their main computer,” said Jacobs, who rang the opening bell at the Nasdaq on Tuesday.
“But this is especially true in emerging markets, because, there, people just don’t have a computer, and a phone is going to be the only computer they will ever have.”
In the last three months, technology giant Qualcomm has been riding a smart phone wave to the tune of a 24 percent stock rally. The company manufactures chipsets, which are integral to smart phones, and licenses technology.