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NXP's (NXPI) Trimension UWB Solution Powers Xiaomi MIX4

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NXP Semiconductors N.V. (NXPI - Free Report) has been persistently making efforts to expand the use of Ultra-Wideband (UWB) solution in various smartphones.

Xiaomi’s latest phone, namely the Xiaomi MIX4, which is equipped with “Point to connect” capabilities, is backed by NXP’s Trimension UWB solution. This is a testament to the above-mentioned fact.

Thanks to UWB’s high accuracy and directional capabilities, the “Point to connect” feature aids Xiaomi MIX4 in seamlessly connecting and controlling Xiaomi smart home devices.

The selection of Trimension UWB by Xiaomi has added strength to NXP’s customer base.

UWB Strength to Boost Prospects

NXP’s UWB technology provides secure ranging and precision sensing capabilities as well as expands its use across mobile, automotive, Internet of Things, and the industrial space.

Apart from the latest move, the company introduced a Trimension UWB platform to help Samsung users locate their personal items.

In addition, it launched beta UWB development tools to support new applications of Apple (AAPL - Free Report) products including iPhone and Apple Watch.

These initiatives are helping NXP to expand its presence in the booming UWB market, which, per a report by MarketsAndMarkets, is expected to hit $2.7 billion by 2025, witnessing a CAGR of 19.6% between 2020 and 2025.

Portfolio Strength

NXP has been continuously strengthening the product portfolio and thereby sustaining momentum in various end markets like automotive, industrial & IoT, mobile as well as communication infrastructure.

It recently incorporated the Gallium Nitride technology into the multi-chip module platform to boost 5G energy prospects.

It also introduced S32G2 vehicle network processors and the S32R294 radar processor on Taiwan Semiconductor’s (TSM - Free Report) 16-nanometer FinFET technology for automotive processing.

Further, it expanded the EdgeVerse portfolio with i.MX 8ULP, Microsoft Azure Sphere-certified i.MX 8ULP-CS, and i.MX 9 applications processors to enhance security as well as energy efficiency.

Zacks Rank & Another Stock to Consider

Currently, NXP carries a Zacks Rank #2 (Buy).

Another top-ranked stock in the broader technology sector is Semtech Corporation (SMTC - Free Report) , carrying a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The long-term earnings growth rate for Semtech is currently projected at 12.5%.