More than four billion smartphones are due to be sold by the end of 2014, according to Qualcomm - and the world's emerging markets will be behind the drive.
CEO Paul Jacobs reckons the cheaper end of the spectrum already counts for the majority of new connections with more and more consumers taking the plunge and buying a smartphone for the first time.
"Most of the growth is coming from the sub $300 segment," Jacobs told attendees of a Qualcomm event being held in Istanbul. "This will be their main device to access the Internet."
And Qualcomm's thinking big - with over 2 billion new 3G connections expected by 2015 and smartphones due to take up 65 of the UK mobile business by the same year. Recent analysis showed that four out of five new connections now come from the likes of India, China and Brazil.
According to Qualcomm's European head Enrico Salvatori, those numbers mean smartphones will be 65 per cent of the UK mobile phone business by 2015.
And with the advent of the tablet, it looks like the hybrid device's time has come too. Jacobs didn't neglect to mention he thinks there is even more of a boom to come there: "Tablets will grow 25 per cent year on year for the next four years,” said Jacobs. "You hear about people talking of an internet of things, we talk about an internet of everything."