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QUALCOMM (QCOM) Unit Unveils Snapdragon Wear 3100 Platform

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QUALCOMM Incorporated’s (QCOM - Free Report) subsidiary, Qualcomm Technologies, Inc. recently introduced the Qualcomm Snapdragon Wear 3100 Platform for smartwatches. The company launched the platform at an event in San Francisco and announced the first Snapdragon Wear 3100 customers.

Based on a new ultra-low power system architecture, the next generation Qualcomm Snapdragon Wear 3100 platform provides new personalized experiences, a rich interactive mode as well as improved battery life.

Being one of the largest manufacturers of wireless chipset based on baseband technology, Qualcomm has been trying to retain its leadership in 5G, chipset market and mobile connectivity with multiple technological achievements and innovative product launches. For instance, Qualcomm, Verizon Communications Inc. (VZ - Free Report) and Ericsson (ERIC - Free Report) has jointly completed the first Massive MIMO (Multiple Input-Multiple Output) trial with a fully-compatible customer device. Also, it achieved a 5G data connection with the Snapdragon X50 5G modem chipset on 28GHz mmWave spectrum. As a matter of fact, the company has been the forefront of driving Gigabit LTE and 5G in the industry.

 

The company’s improved and upgraded technologies will likely enable various firms to build new and updated products and services across the wireless ecosystem to better serve customers. In the past six months, shares of the Zacks Rank #2 (Buy) company have yielded 15.1%, outperforming the industry’s average growth of 9.9%.

Further, the company has signed multiple licensing deals with various Chinese smartphone makers like Xiaomi and Gionee Communication Equipment Co. Ltd. We believe these new patent license agreements will lessen the chip maker’s struggles in China and take it a step closer to solving issues pertaining to its most profitable licensing patent business.

Key Pick

Another top-ranked stocks from the same space is Ubiquiti Networks, Inc. (UBNT - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Ubiquiti Networks surpassed estimates thrice in the trailing four quarters with an average positive earnings surprise of 8.96%.

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