Stefan Mileschin

Despite a belief that the golden age of smartphones are gone, Qualcomm CEO Steve Mollenkopf, its new chief executive, claimed the outfit is developing technologies that will drive continued demand for smartphones.

Mollenkopf took over as chief executive officer at the company's annual shareholders meeting on Tuesday. He was named in December to replace Paul Jacobs, the son of a Qualcomm co-founder.

Mollenkopf told the shareholders' meeting that while it is true that there were some parts of the world where everyone has a smartphone, there were parts where no one had them.

He said that there are a lot more smartphones waiting to be made and Qualcomm has the chips to put inside them.

Mollenkopf pointed to wireless connectivity, cameras, sensors and audio as key smartphone technologies Qualcomm is improving and which he said will help drive demand.

"We're working on technologies that emulate how the brain processes information. Ultimately, I think you get to the point where the phone becomes an extension of all of your senses," Mollenkopf said.

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