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Leading semiconductor solutions provider Broadcom Corp (BRCM - Analyst Report) and SK Telecom Co. Ltd (SKM - Analyst Report) recently collaborated to launch the first 5G WiFi hotspot router to ensure reliable and faster connectivity.

Broadcom’s BCM4708 and BCM4360 communication device processors will ensure higher speed and faster wireless connectivity with significantly less power consumption by offloading data traffic via a fast 5G WiFi connection, thus facilitating an enhanced browsing experience.

SK Telecom has been a leader in deploying 5G WiFi hotspot routers in Korea. The transaction is a win-win situation for both the companies. The technological solutions available from Broadcom and the leadership position of SK Telecom in 5G WiFi hotspot routers are expected to be beneficial for both the companies.

The video consumption on mobile devices is continuously on the rise and users often encounter the problem of choppy videos. Broadcom’s 5G WiFi technology is supposedly the answer to this issue as it will significantly enhance the range of wireless connection. It will provide higher-capacity video streaming, connect multiple devices to the network simultaneously and also reduce power consumption. The 5G WiFi technology is also three times faster and more efficient in comparison to the other WiFi connections available in the market

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 is well placed in the fast-growing wired and wireless communications markets, with cutting-edge solutions for a growing number of connected users, who are demanding more content and bandwidth.

However, the company needs to be wary of its competitors, which include formidable names such as Nitto Denko Corporation (NDEKY). Broadcom currently has a Zacks Rank #3 (Hold). One of its competitors, Cypress Semiconductor Corporation (CY - Analyst Report) carries a Zacks Rank #2 (Buy).

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