Qualcomm, Inc. (NASDAQ:QCOM)’s Snapdragon Wear 2100 to allow for slimmer Android watches
Qualcomm, Inc. (NASDAQ:QCOM) has launched a number of new processors and system chips under its famous Snapdragon family. Among the new chips is Snapdragon Wear 2100, a chip platform targeting the smartwatchwearable tech market. Qualcomm’s Snapdragon Wear 2100 is expected to allow for production of slimmer Android Wear devices.
Manufacturers of Android wearables presently use Qualcomm, Inc. (NASDAQ:QCOM)’s Snapdragon 400. The chip was originally designed for smartphones and tablets but ended up being used in smartwatches and other wearable tech. However, it isn’t the best chip manufacturers of such devices would like to put in their products.
Smaller more energy efficient chip system
Understanding the need for better wearable chip system, Qualcomm, Inc. (NASDAQ:QCOM) has come up with Snapdragon 2100. According to the company, the Snapdragon Wear 2100 is 30% smaller and 25% more efficient in energy usage than Snapdragon 400.
That means that devices based on Snapdragon Wear 2100 can be significantly smaller in size than those running Snapdragon 400. Additionally, the improvement in energy efficiency means that smartwatches running Snapdragon 2100 will have longer battery life.
Qualcomm, Inc. (NASDAQ:QCOM)’s Snapdragon Wear 2100 chip system also comes with in-built LTE modem, Bluetooth and Wi-Fi capabilities for faster connectivity. Overall, Snapdragon Wear 2100 is promising to be one of the greatest breakthroughs for manufacturers Android wearables.
$19 billion market opportunity by 2018
Wearable tech is promising to be a huge market in the coming years. Juniper Research predicts that spending on wearable technology will reach $1.4 billion by the end of 2016, rising sharply thereafter to $19 billion by 2018. The steep rise of wearable tech spending in such a short period is expected to be driven in part by heightened consumer awareness. Presently, many people haven’t figured out what they need wearable device for, but awareness is growing rapidly, especially in the health/fitness cycles.
Wearables such as Apple Inc. (NASDAQ:AAPL)’s Apple Watch are also expected to help push the boundaries of consumer payment. A number of payments providers are already working to make it possible for people to settle bills right from their wrists.
Qualcomm, Inc. (NASDAQ:QCOM) is vying for the wearable tech dollars as it faces a slowdown in the smartphone sector.
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