For Qualcomm, this will be the third high-profile design win in a new crop of mobile devices. Google's ( GOOG) Android Nexus One is powered by Qualcomm's SnapDragon processor, the biggest win yet for that up-and-coming chip.

And earlier this month, as TheStreet exclusively reported, Apple chose Qualcomm's wireless chip for a new version of the iPhone that's headed to Verizon this summer.

It hasn't all been homeruns for Qualcomm however. Some analysts say the chip shop failed to deliver an all-in-one world phone chip that would have enabled Apple to build one iPhone for all carriers.

Qualcomm also didn't win the processor slot for the Apple Tablet. Instead, that victory went to Apple's own P.A. Semi, as Kumar first told TheStreet. The snub was more painful for Intel ( INTC), which had hoped to get involved with the flagship Tablet device, should that category attract consumers.

And that is the wild card for the Apple Tablet: Proving there is big consumer demand be for an in-between device with no keyboard and a $2,000 price tag that includes a data contract.

Thousands of people won't blink at the price, but millions probably will.

-- Reported by Scott Moritz

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