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 said on Tuesday that it expects its push into new markets to generate an additional $22 billion per year by 2029.

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

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.