Qualcomm CEO Steve Mollenkopf delivered his first keynote address this week marking a new milestone for the company - powering 1 billion Android phones in the market.

Qualcomm, the leader in mobile processing chips, is not willing to give up its lead in the industry anytime soon. If Thursday's keynote is any indication, the chip maker is on its way to power 8 billion smartphones in the next five years, a bigger milestone compared to the one billion Android phones already powered using its Snapdragon processor. 

The news of the impressive achievement came from Qualcomm CEO Steve Mollenkopf, who succeeded Paul Jacobs, in his first keynote at Qualcomm's annual developer conference in Uplinq, Thursday, reports Droid-Life.

With more than one billion Android phones using Qualcomm chips, the California-based firm leads the market. The company has defeated its rivals Texas Instruments (OMAP), NVIDIA (Tegra) and Samsung (Exynos) by powering most of the smartphones shipped across the world.

Qualcomm has been able to corner the market because of weak rivals. Texas Instruments stepped away from tablets and smartphones years ago and NVIDIA entered late into the market with LTE chips. As for Samsung, the Korean tech giant reserved its Exynos chips for its own smartphones, Android Headlines reported.

Qualcomm has more than a thousand different devices using its SoC, which include the GPU, processors and modems. The chip maker marks its range of Snapdragon processors with 200 (Play), 400 (Plus), 600 (Pro) and 800 (Prime) series. These processors were renamed twice in the past, the report added.

Though Qualcomm is leading the pack with its LTE offerings, the competition will get fiercer when MediaTek launches its LTE based solution soon. Besides Android dominance, Qualcomm's LTE modem has also been used in the new iPhone 6. The company is constantly improving its LTE based technology in chips and recently announced the latest Snapdragon 210 that aims at integrating LTE band into low-end smartphones.