The company expects its sales in the wireless segment to increase by19% per year to $20bn by 2016.
Swiss semiconductor firm, STMicroelectronics, expects that demand from Apple and Samsung Electronics will give a $1.4bn boost in wireless-component sales as the company works to exit its struggling mobile chip joint venture with Ericsson.
The joint venture (JV) was formed in 2008 and earlier this month, STMicroelectronics said it will write down $500m to exit the joint venture.
According to Bloomberg, STMicroelectronics head of micro-electro mechanical systems, Benedetto Vigna, said the company wants to lure more contracts from the world's biggest phone-makers with touchless screens.
The company is focusing on products like sensors and imaging, which it said make up the fastest- growing segment of the wireless equipment market.
By 2016, STMicroelectronics expects its sales in the wireless segment to increase by 19% per year to $20bn.
"Yes we're exiting ST-Ericsson, but wireless is still a very important market for us," Vigna said.
STMicroelectronics reported revenues of $2.16bn for the fourth quarter of 2012, compared to $2.19bn it reported for the corresponding quarter in 2011.