But Qualcomm can anticipate huge opportunities in the fast-growing Internet of Things sector, said Kitty Fok, general manager of research firm IDC China. The overall demand for mobile chips is set to surge over the following years.

Qualcomm is attempting to tap into the electric vehicle charging market for which the Chinese government is planning a multi-million-yuan subsidy. The company showcased its car charging technology in China recently.

China and the US are also planning to sign a deal on tariff cuts for information technology products, another positive development for Qualcomm.

Bryan Wang, principal analyst and country manager at Forrester Research Inc, said a bilateral deal that includes the chip industry will benefit both countries.

"Such an agreement compliments the overseas strategy for many Chinese consumer electronics manufacturers and mobile device companies," said Wang, adding it may also help US firms - including Qualcomm - to secure their future interest in the challenging Chinese market place.