Leading semiconductor solutions provider Broadcom Corp (BRCM - Analyst Report) recently added a new product titled WICED Direct in its Wireless Internet Connectivity for Embedded Devices (WICED) portfolio.
The product offers a framework for integrating Bluetooth, Wi-Fi, Near Field Communication (NFC) and location technology into wearable devices. By integrating Wi-Fi into WICED platform, the company enables Original Equipment Manufacturers (OEMs) to rapidly develop wearable products that communicate seamlessly to the cloud via smart mobile devices. At the same time, the product simplifies the implementation of Internet connectivity into a wide range of consumer devices.
The WICED platform opens a plethora of opportunities for new products like health and wellness devices, clothing accessories, cameras and other wearable sensors. The market for such connected wearable components is likely to reach more than $1.5 billion by 2014. Nearly 15 million wearable smart devices are expected to be sold this year and nearly 70 million by 2017. Consequently, Broadcom is likely to generate significant revenue from the introduction of such technologically advanced products.
Broadcom is a premier semiconductor manufacturer in the fast-growing wired and wireless communications markets. The company has cutting-edge solutions for a growing number of connected users who are demanding more content and bandwidth. The WICED portfolio provides the foundation for embedding low power, high-performance wireless connectivity into smart devices and Internet.
Based in Irvine, Calif., Broadcom is engaged in designing and marketing semiconductor components of network voice, video, and data traffic for various applications. The company continues to drive innovation and engineering excellence across a broad range of communication end markets to help its customers enhance device performance and overall efficiency.
Broadcom currently has a Zacks Rank #4 (Sell). Other stocks that look promising and are worth a look in the industry include Integrated Device Technology, Inc (IDTI - Snapshot Report), TriQuint Semiconductor, Inc. (TQNT - Analyst Report) and Cypress Semiconductor Corporation (CY - Analyst Report), each carrying a Zacks Rank #2 (Buy).