If you look at a company like Qualcomm, we're a big exporter. We essentially have tremendous revenue offshore and large employment onshore. I think it's very difficult to make big changes in that.
Qualcomm is this big innovation house that tries to figure out how we can get as many people as possible using the cellular road map. The smartphone is just the first step along that journey.
Today, billions of mobile devices with extraordinary power are uniting with advancements in robotics artificial intelligence, nanotechnology, and so much more.
The licensing business is about licensing the full portfolio of Qualcomm's patents. Some of them involve the chip. Some of them don't involve the chip. In fact, the vast majority of them don't involve the chip.
People tend to not forgo purchasing a cellphone. In many places in the world, the first time they get on the Internet is through a cellphone. Pretty significant economic push, particularly in the emerging market.
If you look at the developed world, people have multiple devices now. And a phone works with a watch, with a car, with a tablet, with a number of other type of devices.
