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Sprint & NXM to Unveil IoT Blockchain Connected Car Platform

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Sprint Corporation has collaborated with NXM Labs Inc., an IoT Blockchain platform developer, to launch a 5G-ready connected car platform.

Notably, this advanced and secure platform features the industry’s first blockchain powered IoT security system. It involves a combination of high-speed, on-demand passenger Wi-Fi with advanced vehicle health monitoring and safety. It will be available at leading automotive dealers nationwide from this fall.

Headquartered in San Francisco, NXM seeks to partner with global leaders in communications, semiconductors, automotive, enterprise software, manufacturing, consumer electronics and insurance to commercialize its innovative technology.

The NXM solution can be implemented in the automotive value chain, from supply chain management to manufacturing and comprehensive vehicle lifecycle data tracking, for cost savings and operations optimization.

The connected car platform has a powerful automotive router to keep people connected on the road as well as through mobile applications. It will provide on-demand, unlimited high-speed Wi-Fi connectivity, powered by the Sprint LTE network, enabling both preowned and new car buyers to experience the latest in the smart connected vehicle technology.

Features such as smart parental controls, anti-theft, roadside assistance and collision detection will likely help keep families safe and secure. Also, the platform makes it easy to find nearby parking and provides a track of driving expenses. It keeps multiple family vehicles connected, providing members new ways to communicate.

Sprint's 4G LTE network is reportedly the most improved network in the United States. The company has significantly raised investments to increase coverage, reliability and speed across its nationwide network and launch the first 5G mobile network in the first half of 2019.

Over the past three months, shares of Sprint have gained 8.1% against the industry decline of 1.8%.

Sprint currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the broader industry include Comtech Telecommunications Corp. (CMTL - Free Report) , Motorola Solutions, Inc. (MSI - Free Report) and Ubiquiti Networks, Inc. . While Comtech sports a Zacks Rank #1 (Strong Buy), Motorola and Ubiquiti carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.              

Comtech has a long-term earnings growth expectation of 5%. It beat earnings estimates in each of the trailing four quarters, the average being 123.7%.         

Motorola has a long-term earnings growth expectation of 8%. It beat earnings estimates in each of the trailing four quarters, the average being 12.1%.   

Ubiquiti has a long-term earnings growth expectation of 18.6%. It exceeded earnings estimates thrice in the trailing four quarters with an average positive surprise of 8.9%.    

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