Qualcomm Technologies, Inc, a subsidiary of QUALCOMM Incorporated (QCOM - Free Report) , China Mobile Research Institute and China Mobile IoT (“CMIoT”) Company Limited recently announced new roadside units (RSUs) for 3rd Generation Partnership Project (3GPP) Release 14 LTE-V2X direct communication (PC5). The system is based on the Qualcomm 9150 Cellular Vehicle-to-Everything (C-V2X) chipset solution. CMIoT is a wholly-owned subsidiary of China Mobile Limited (CHL - Free Report) .
The strategic collaboration among these three entities underscores the expansion of the long-term relationship for the development of the connected vehicle industry in China. LTE-V2X, which will pave an evolutionary path toward 5G New Radio (5G NR), is a core technology of the Intelligent Transport System (ITS). It is a global solution for V2X communications designed to support improved automotive safety, automated driving and traffic efficiency. Also, it is currently the only V2X communication technology compliant with the global 3GPP specifications.
The PC5-based direct communication mode of LTE-V2X offers vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I) and vehicle-to-pedestrian (V2P) communications on the unified 5.9 GHz ITS bands without the need for a Subscriber Identity Module (SIM), cellular subscription or network assistance. Notably, through LTE-V2X, vehicles on the road will have the capability to directly communicate with RSUs, allowing drivers to get information about various use cases.
Notably, C-V2X is a modern technology with superior and predictable radio performance, and will pave the path for secure driving facilities to save lives in future automated driving use cases. It continues to gain worldwide support from the telecommunication standards associations and the automotive ecosystem, including the 5G Automotive Association (5GAA) that has discussed about C-V2X’s readiness for the commercial deployment as early as 2019.
Qualcomm focuses on accelerating LTE-V2X commercial roll-outs in China by increasingly expanding its relationship with the region’s ecosystem. The company’s advance technologies and high-performing automobile solutions are likely to transform the landscape of connected vehicles.
In the past three months, shares of Qualcomm have rallied 26.8% compared with the industry’s rise of 12.8%.
Qualcomm currently carries a Zacks Rank #2 (Buy). A few other top-ranked stocks in the industry are Ribbon Communications Inc (RBBN - Free Report) and Ubiquiti Networks, Inc (UBNT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ribbon Communications has a long-term earnings growth expectation of 12%. It beat earnings estimates in each of the trailing four quarters, the average surprise being 168.1%.
Ubiquiti Networks has a long-term earnings growth expectation of 18.6%. It surpassed earnings estimates thrice in the trailing four quarters with an average positive surprise of 9%.
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