Showing posts with label Qualcomm. Show all posts
Showing posts with label Qualcomm. Show all posts

Tuesday, February 20, 2018

Qualcomm raises its bid for NXP to $127.50 per share in cash

Qualcomm increased its bid to acquires all outstanding shares of NXP Semiconductors to $127.50 per share in cash.

The previous price was $110.

Qualcomm also announced binding agreements with nine NXP stockholders who collectively own more than 28% of NXP’s outstanding shares (excluding additional economic interests through derivatives) to tender their shares at $127.50 per share.  These stockholders include funds affiliated with Elliott Advisors (UK) Limited and Soroban Capital Partners LP.

“Qualcomm’s leading SoC capabilities and technology roadmap, coupled with NXP’s differentiated position in Automotive, Security and IoT, offers a compelling value proposition.  We remain highly confident in our fiscal 2019 Non-GAAP EPS target of $6.75-$7.50, which includes $1.50 per share accretion from the acquisition of NXP.  With only one regulatory approval remaining, we are working hard to complete this transaction expeditiously.  Our integration planning is on track and we expect to realize the full benefits of this transaction for our customers, employees and stockholders,” stated Steve Mollenkopf, Chief Executive Officer of Qualcomm.


Monday, February 19, 2018

Elliott insists fair value for NXP is $135 per share

Elliott Advisors (UK), which holds an approximate 7.2% economic interest in NXP Semiconductors, is insisting that the take-out value for Qualcomm to acquire NXP should be higher than $135 per NXP share.

Elliot published a presentation in which it argues:

  • NXP is currently one of the most attractive companies in the semiconductor sector
  • NXP has a track record of consistent outperformance versus market expectations over the past year 
  • NXP top-line growth came in above consensus expectations in each of the past four quarters with growth in 2017 Q4 of 16.0% outpacing consensus by 5.8 percentage points;
  • NXP's performance has been driven by impressive results of “Core NXP” (i.e., the Automotive and Secure Connected Devices segments contributing approximately 69%2 of NXP total revenues)
  • In 2017 H2, NXP’s revenue growth was higher than the median growth for its peers, signaling NXP’s potential and giving credibility to consensus expectation that the company should grow faster than peers at 5.3% CAGR (1.5 percentage points ahead of the median for NXP’s peers);
  • NXP is uniquely placed to radically enhance Qualcomm's long-term strategy

http://www.fairvaluefornxp.com/


Broadcom sweetens its bid for Qualcomm


Broadcom boosted its unsolicited bid to acquire Qualcomm to $121 billion, or $82 per share, consisting of $60.00 in cash and the remainder in Broadcom shares. Broadcom described the bid as its "best and final offer", saying that it is prepared to pay to Qualcomm "a significant "reverse termination fee" in an amount appropriate for a transaction of this size in the unlikely event we are unable to obtain required regulatory approvals." Several conditions...

Elliott comments on Qualcomm's extended tender for NXP


Elliott Advisors (UK) published an advisory letter to investment funds that now collectively hold an increased economic interest in NXP Semiconductors N.V. of approximately 6.6%. The advisory argues that that NXP is of significant strategic importance to QUALCOMM Incorporated (“Qualcomm”) and that such a transaction will deliver substantial value to Qualcomm shareholders at prices meaningfully higher than Elliott’s own assessment of standalone intrinsic...

Acquisition still not done - Qualcomm extends cash tender offer for NXP shares


Qualcomm extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 9, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement. American Stock Transfer & Trust Company, the depositary for the tender...

Elliott Advisors says Qualcomm's bid for NXP is too low


Elliott Advisors (UK), which advises funds that collectively hold an economic interest in NXP Semiconductors of approximately 6%, published an open letter stating that Qualcomm's offer to acquire the company is too low. Elliot believes NXP is worth $135 per share on an intrinsic standalone basis – far above the $110 offered by Qualcomm. Elliott states Qualcomm’s offer of $110 per share is acting as "a ceiling on NXP’s valuation", noting that NXP’s...


Friday, February 16, 2018

Qualcomm rejects Broadcom's $82 offer after meeting

For a second time, the Board of Directors of Qualcomm formally turned down Broadcom's $82 per share "best and final" acquisition offer saying the bid "materially undervalues Qualcomm and has an unacceptably high level of risk, and therefore is not in the best interests of Qualcomm stockholders." This second rejection comes after members of Qualcomm’s Board and its senior management team met with Broadcom.

Paul E. Jacobs, chairman of Qualcomm's Board, posted a public letter to Broadcom's president and CEO, Mr. Hock Tan, in which he states two additional objections: potential divestitures that might be required by market regulators to gain approval for the acquisition, and potential changes to Qualcomm's valuable licensing business that Qualcomm views as problematic and not permitted under antitrust laws.

The letter leaves the door open to further discussions with Broadcom if these objections can be overcome.

Wednesday, February 14, 2018

Qualcomm debuts Wireless Edge Services for enterprise and IoT security

Qualcomm is introducing a set of trusted software services rooted in its chipset architecture and designed to meet the requirements of new enterprise and industrial IoT customers to securely provision, connect and manage long life-cycles of billions of intelligent wireless devices through their cloud platforms.

The idea with Qualcomm wireless edge services software is to provide predictability and security throughout a device's entire lifecycle. By rooting a trusted service within the silicon, a device can be on-boarded and managed in a predictable way. These trusted services would be exposed through new APIs and available on Qualcomm chipsets – initially its MDM9206, MDM9628 and QCA4020 – and later on, select Qualcomm Snapdragon platforms. Capabilities include plug n play onboarding, on-demand, over-the-air feature activation, emergency and routine upgrades as well as third-party service enablement throughout the device life-cycle.

Large enterprise, industrial cloud providers and users could use the capabilities to provision and manage massive amounts of connected 4G and 5G devices in a trusted, security-rich and scalable manner. Qualcomm said its wireless edge services can provide strong protection against compromised devices and network attacks through hardware-based device integrity.

“With the introduction of Qualcomm wireless edge services, we continue to evolve and augment our leading Snapdragon portfolio to better serve our expanding base of customers across many industries and unlock the potential associated with trusted wireless access to billions of increasingly capable edge devices” said Serge Willenegger, senior vice president and general manager, 4G/5G and Industrial IOT, Qualcomm Wireless GmbH. “We are excited by the initial response from cloud, enterprise and industrial companies and are looking forward to working with them as well as our traditional customers to accelerate the transformative opportunity supported by advanced security, intelligence and wireless connectivity capability at the edge.”

Qualcomm cited ecosystem support from Alibaba, Baidu, Mobike, Quectel and others.

Tuesday, February 13, 2018

Verizon completes its first 5G call

Verizon completed its first over-the-air call on a 3GPP-compliant 5G New Radio (NR) system using licensed millimeter wave spectrum.

The call, which was completed at Nokia’s facility in Murray Hill, New Jersey earlier this month, used Nokia's 5G CloudRAN solution, which is comprised of the Nokia AirScale baseband and radio, AirFrame server, and AirScale Cloud RAN running 5G NR 3GPP-compliant software. Qualcomm provided 5G NR prototype devices in smartphone form factors.

The companies described the test as an important milestone on the road to preparing Verizon’s network for widespread implementation of commercial 5G mobile services for consumers and enterprises.

“With this first 3GPP NR standards-based connection, Verizon continues to lead the development of 5G technology,” said Ed Chan, senior vice president and chief technology architect, Corporate Network & Technology, Verizon. “By partnering with Nokia and Qualcomm to combine 5G technology with our deep millimeter wave spectrum, we’re well on the way to being the first to usher in the next era of wireless communications for customers.”

“Nokia’s 3GPP-compliant high-capacity 5G solution supports pioneering operators like Verizon in leveraging their assets to make a true difference with 5G for their customers,” said Marc Rouanne, president of Mobile Networks, Nokia. “Using the successful interoperability testing we conducted with Qualcomm as a basis, we’re now applying our standard-compliant 5G technology in this trial with Verizon to push the commercialization of 5G.”

Verizon, Qualcomm and Novatel to expedite 5G NR mmWave rollout

Verizon, Qualcomm Technologies, and Novatel Wireless, are pushing ahead with plans to expedite the rollout of 5G New Radio (NR) millimeter wave (mmWave) technology.  The companies have agreed to collaborate on over-the-air field trials based on the 5G NR Release-15 specifications being developed by 3GPP, with hopes of moving the mobile ecosystem towards faster validation and commercialization of 5G NR mmWave technologies at scale before the end of the decade.

The expedited plan call for an initial focus on 5G NR operation in 28 GHz and 39 GHz mmWave spectrum bands. The goal is to achieve robust multi-gigabit per second data rates with mobility at significantly lower latencies than today’s networks. Over-the-air trials are expected starting in 2018, that will be compliant with the first 3GPP 5G NR specification that will be part of Release 15. The trials will utilize 5G NR mmWave mobile test platforms from Qualcomm and will employ advanced 5G NR Multiple-Input Multiple-Output (MIMO) antenna technology with adaptive beamforming and beam tracking techniques.


Qualcomm shows 5G NR mmWave prototype

Qualcomm unveiled a 5G NR mmWave prototype system based on the 5G New Radio (NR) Release-15 specifications.  Peak download speeds of up to 5 Gbps are possible.

The prototype system, which operates in millimeter wave (mmWave) spectrum bands above 24 GHz, demonstrates how advanced 5G NR mmWave technologies can be utilized to deliver robust mobile broadband communications at multi-gigabit-per-second data rates in real-world mobile environments.

Qualcomm's prototype leverages the company's optimized mmWave RF Front-end design in a smartphone form-factor to test and trial real-world mmWave challenges, such as device and hand-blocking. It employs Multiple-Input Multiple-Output (MIMO) antenna technology with adaptive analog beamforming and beam tracking/steering techniques, which is required for robust and sustained mobile broadband communications in non-line-of-sight (NLOS) environments and device mobility. It also supports 800 MHz bandwidth and advanced 5G NR technologies including LDPC channel coding for data channels.

Thursday, February 8, 2018

Qualcomm builds up 5G momentum with design wins, trials

The major pieces are falling into place for the wide-scale rollout of 5G networks beginning in 2019. according to Qualcomm executives at a media event in San Diego ahead of the upcoming Mobile World Congress.

For the 5G launch to be successful, all of the following would have to be commercially ready: we standards, silicon, network infrastructure deployment, available spectrum, a choice of consumer devices, and viable use cases sustained by business models.

Qualcomm said the industry has made progress in each of these areas, setting the stage for what should be a strong rollout of 5G by a number of mobile operators. This week Qualcomm is announcing:

5G design wins with device manufacturers -- there is a growing list of leading global OEMs choosing the Qualcomm Snapdragon X50 5G NR modem family for standard-compliant 5G NR mobile device product launches starting in 2019. These 5G mobile devices will be for the sub-6 GHz and millimeter wave (mmWave) spectrum bands. Brands committing to the Snapdragon X50 5G NR modem include: Asus, Fujitsu Limited, Fujitsu Connected Technologies Limited, HMD Global – the home of Nokia phones, HTC, Inseego/Novatel Wireless, LG, NetComm Wireless, NETGEAR, OPPO, Sharp, Sierra Wireless, Sony Mobile, Telit, vivo, Wingtech, WNC, Xiaomi and ZTE.

5G NR Trials with mobile operators --  Qualcomm® Snapdragon™ X50 5G modem has been selected for use in live, over-the-air mobile 5G NR trials with multiple global wireless network operators in both the sub-6 GHz and millimeter wave (mmWave) spectrum bands. AT&T, British Telecom, China Telecom, China Mobile, China Unicom, Deutsche Telekom, KDDI, KT Corporation, LG Uplus, NTT DOCOMO, Orange, Singtel, SK Telecom, Sprint, Telstra, TIM, Verizon and Vodafone Group will conduct the trials, which will be based on the 3GPP Release 15 5G NR standard.

Use cases -- 5G use cases include enhanced mobile broadband to smartphones; Always Connected PCs; head-mounted displays (HMD) for virtual reality (VR), augmented reality (AR) and extended reality (XR); and Mobile Broadband, all of which require constant and consistent cloud connectivity.

"2018 will be a big year for Qualcomm Technologies and the mobile industry overall as we work to execute on the agreed upon 5G NR specification,” said Cristiano Amon, president, Qualcomm Incorporated.

Qualcomm rejects Broadcom's latest offer

The Board of Directors of Qualcomm unanimously rejected the latest bid from Broadcom posted -5-February-2018, saying the offer of $82.00 per share ($60.00 in cash and $22.00 in Broadcom stock) significantly undervalues the company and poses regulatory risks.

In an open letter to Mr. Hock Tan, Broadcom's CEO, the directors of Qualcomm point out that the offer "ascribes no value to our accretive NXP acquisition, no value for the expected resolution of our current licensing disputes and no value for the significant opportunity in 5G."

Wednesday, February 7, 2018

Nokia and Qualcomm conduct 5G NR testing

Nokia and Qualcomm Technologies completed 5GNR interoperability testing in the 3.5Ghz and 28Ghz spectrum compliant with the global 3GPP 5G NR Release 15 standard.

The testing, which was complete at Nokia's 5G center of excellence in Oulu, Finland and using the commercially available Nokia AirScale base station and device prototypes from Qualcomm, will provide the basis for 5G NR field trials with operators in 2018.

Marc Rouanne, President of Mobile Networks, Nokia said: "These tests by Nokia and Qualcomm Technologies are important to the progress of 5G. Importantly, they demonstrate how we have quickly applied the 3GPP Release 15 specifications that were set in December, using our AirScale base station - which has been shipped to more than 100 customers - together with a prototype Qualcomm Technologies UE. Now, we can look forward to commencing standards-based, over-the-air 5G NR trials with operators."

Cristiano Amon, president of Qualcomm Incorporated, said: "The successful completion of an end-to-end interoperable connection based on the global 5G NR standard is a significant step on the path to launching 5G NR commercial networks and devices starting in 2019. We look forward to further collaboration on standard-compliant field trials with Nokia and global operators on the path to commercialization."

Thursday, February 1, 2018

Qualcomm and Samsung expand their relationship

Qualcomm and Samsung Electronics announced a multi-year strategic relationship agreement between the two companies in various technology areas and across a range of mobile devices.

"The announcement today underscores the importance of our longstanding strategic relationship with Samsung in driving core mobile technology into many different segments," said Cristiano Amon, president, Qualcomm Incorporated. "As Qualcomm continues to lead the world to 5G, the opportunities between our companies are growing and this agreement sets us both on a path for continued success." 

"We value our strategic relationship with Qualcomm Technologies," said TM Roh, executive vice president and the head of mobile R&D, Samsung Electronics. "And look forward to working together to deliver leading technologies in the years ahead."

Thursday, January 25, 2018

Qualcomm launches 5G Pioneer initiative with Chinese brands

Qualcomm is launching a "5G Pioneer" Initiative supported by leading Chinese manufacturers of smartphones to introduce 5G devices as early as 2019.

Representatives from Lenovo, OPPO, vivo, Xiaomi, ZTE and Wingtech Technology Co. joined Qualcomm in the announcement.

“5G will bring massive new opportunities to the mobile industry, and we are excited to work with these manufacturers on this 5G Pioneer Initiative,” said Cristiano Amon, president, Qualcomm Incorporated. “Qualcomm Technologies has close relationships within China’s mobile and semiconductor ecosystem, and we’ll continue to work with this ecosystem to drive innovation as we move from the 3G/4G era to the 5G era.”

Sunday, January 21, 2018

Elliott comments on Qualcomm's extended tender for NXP

Elliott Advisors (UK) published an advisory letter to investment funds that now collectively hold an increased economic interest in NXP Semiconductors N.V. of approximately 6.6%. The advisory argues that that NXP is of significant strategic importance to QUALCOMM Incorporated (“Qualcomm”) and that such a transaction will deliver substantial value to Qualcomm shareholders at prices meaningfully higher than Elliott’s own assessment of standalone intrinsic value of $135 per share.

Elliott’s letter sets out the following points:

  • Qualcomm’s shareholders would benefit from a transaction which delivers material diversification away from its declining licensing business and provides meaningful strategic and financial synergies. In Elliott’s view, an acquisition of NXP brings more dollars of strategically relevant diversification in high-growth segments of the semiconductor market to Qualcomm than any other company. Elliott also notes that these benefits would not be available to Qualcomm through other means of capital allocation such as a buyback;
  • The synergies from the acquisition of NXP by Qualcomm alone could create between $19 and $48 of value per NXP share. NXP shareholders would be uniquely disadvantaged if a transaction occurred and these synergies were not appropriately and fairly shared. The average takeover premium paid on semiconductor and large cap deals during the last seven years was, based on one recent estimate, approximately 37%; and
  • The UBS Financial Analysis shows that Qualcomm shareholders could benefit from a share price increase from unaffected levels, as a result of an NXP acquisition, in excess of 30% at prices meaningfully higher than Elliott’s view of NXP’s standalone value of $135 per share.

“We believe both Qualcomm and NXP shareholders stand to benefit from a credible offer for NXP — an offer which appropriately and fairly recognizes both NXP’s intrinsic value, the substantial value that will be delivered to Qualcomm and a control premium for NXP shareholders,” Elliott said in its letter to shareholders. “Even if one’s view of NXP’s intrinsic stand-alone fair value is below Elliott’s own estimate of $135 per share, we believe the analysis supports the finding that Qualcomm can deliver value to its shareholders at prices for NXP higher than $135 per share. Our increasing economic interest in NXP which has current market value of approximately $2.7 billion underscores our significant level of conviction in the value opportunity present at NXP today.”

Saturday, January 13, 2018

Acquisition still not done - Qualcomm extends cash tender offer for NXP shares

Qualcomm extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI).

The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 9, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.

American Stock Transfer & Trust Company, the depositary for the tender offer, has advised Qualcomm that as of January 11, 2018, 5,695,728 NXP common shares, representing approximately 1.7% of the outstanding NXP common shares, have been validly tendered pursuant to the tender offer and not properly withdrawn. Shareholders who have already tendered their common shares of NXP do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the tender offer.

Qualcomm to Acquire NXP -- Engines for the Connected World

Qualcomm agreed to acquire all of the issued and outstanding shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. The deal will be financed through cash on hand and $11 billion in new debt. The companies expect total annualized synergies of $500 million within two years of close.

NXP Semiconductors N.V., which headquartered in Eindhoven, Netherlands, employs approximately 45,000 people in more than 35 countries and is known for its mixed-signal semiconductor electronics. The company was known as Philips Semiconductor prior to 2006.

Key markets include automotive, broad-based microcontrollers, secure identification, network processing and RF power. NXP has a broad customer base, serving more than 25,000 customers through its direct sales channel and global network of distribution channel partners.

For Q3 2016, NXP reported revenue of $2.469 billion, up 4.4% over a year ago, and GAAP gross profit of $1.184 billion, up 7.7% over a year ago.

The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.

Thursday, January 11, 2018

First Cellular Vehicle-to-Everything (C-V2X) trials planned for Japan

The first Cellular Vehicle-to-Everything (C-V2X) trials in Japan will get underway this year with participation from NTT DOCOMO, Nissan, OKI, Continental, Ericsson and Qualcomm.

The testing will focus on the range, reliability and latency benefits of C-V2X direct communications operated in 5 GHz band. Additionally, the C-V2X trials are designed to demonstrate the complementary benefits of network-based communications utilizing LTE-Advanced (LTE-A).

C-V2X provides non-line-of-sight (NLOS) low latency awareness with longer range than Advanced Driver Assistance System (ADAS) sensors, such as radar, lidar, and camera systems. It is to extend a vehicle's ability to see, hear and communicate further down the road, even at blind intersections, while complementing ADAS sensors.

C-V2X was defined by the 3rd Generation Partnership Project (3GPP) in their Release 14 specifications.

The C-V2X trial is expected to begin in 2018. Several use cases are planned, including: Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I) and Vehicle-to-Pedestrian (V2P) direct communications, as well as Vehicle-to-Network (V2N) operations over cellular network-based wide area communications with cloud access.

Some highlights:

  • Continental will utilize the Qualcomm C-V2X Reference Design, which features the Qualcomm® 9150 C-V2X chipset with integrated Global Navigation Satellite System (GNSS) capability to build connected car systems and integrate the systems into Nissan vehicles. 
  • Nissan will perform V2X use case selection and develop test scenarios with key performance indicators (KPIs) for C-V2X technology validation. 
  • OKI will bring their expertise in roadside unit (RSU) infrastructure and applications to demonstrate V2I as a viable technology for advanced traffic applications by integrating the Qualcomm 9150 C-V2X chipset into their RSU. 
  • Ericsson will join the V2N use case discussion involving the combination of direct communication and LTE-A network technologies. 
  • NTT DOCOMO will provide LTE-A network and V2N applications to demonstrate the benefits of the complementary use of network-based communications for a variety of advanced automotive informational safety use cases.

"The C-V2X solution is unique in that it, within a common technology and eco-system, offers both network-based and direct communication for V2X services. With the network-based communication, there is a possibility to provide traffic safety and traffic efficiency services utilizing already existing coverage and penetration of cellular modems and smartphones. It also provides connectivity to various cloud-based services, providing a range of applications and value-added services. In these trials, all stakeholders are present to showcase the strength of the complete solution covering both connectivity and different applications. Ericsson is contributing with leading 4G, 5G radio, and network expertise and by leveraging our understanding of the IoT ecosystem," said Erik Ekudden, chief technology officer at Ericsson.

"This collaborative project will bring together the invaluable knowledge and experience of world leaders in the automotive and telecom domains, and will it be imperative for all parties to underpin their roles in the era of connected cars toward improved road safety and comfort. NTT DOCOMO is determined that our experience in telecommunications systems will be indispensable to maximize the values of C-V2X. This project will set a clear path toward connected cars and roads of the future that materialize the power of C-V2X," said Hiroshi Nakamura, Chief Technology Officer at NTT DOCOMO.

Tuesday, January 9, 2018

Ford partners with Qualcomm on C-V2X - cellular vehicle-to-everything

Qualcomm and Ford are collaborating on the development of advanced connectivity systems for vehicles using Cellular Vehicle-to-Everything (C-V2X) technology.

C-V2X is designed to allow vehicles to directly communicate with other vehicles, pedestrian devices, and roadside infrastructure, such as traffic signs and construction zones, without the involvement of a cellular network, or cellular network subscription.

C-V2X field validations are expected to begin in 1H 2018 in San Diego, along with additional trials in Detroit.

Qualcomm's first C-V2X chipset is expected to be commercially available the second half of 2018.

Qualcomm and Ford are also working on automotive telematics platforms with integrated Qualcomm Snapdragon LTE modems.

"Our goal is to provide the smartest and best connected, human-centered experiences for our customers around the world," said Don Butler, Ford Motor Company. "Ford and Qualcomm Technologies believes that C-V2X holds great potential for the cars of the future. We're excited to prove its ability to create a more connected environment where people can move more freely."

Thursday, January 4, 2018

Verizon tests FDD Massive MIMO with Ericsson, Qualcomm

Verizon, Ericsson and Qualcomm Technologies conducted the first FDD Massive MIMO trial with a fully compatible customer device in December.

The test used the latest Ericsson Massive MIMO software and hardware on Verizon's network, along with a mobile test device powered by the Qualcomm Snapdragon 845 Mobile Platform with X20 LTE using TM9 (Transmission Mode 9). TM9 is an enhancement for consumer devices that will make them fully compatible with Massive MIMO, enabling a better experience.

Verizon said the achievement builds on the momentum from the deployment of FDD (Frequency Division Duplexing) Massive MIMO (Multiple Input – Multiple Output) on Verizon's wireless network in Irvine, California.

"Massive MIMO is a critical component of our 4G LTE Advancements and will play an important role in 5G technology that will result in single digit latency and scalability in the billions of connections," stated Nicola Palmer, Chief Network Engineer and Head of Wireless Networks, Verizon.

Tuesday, December 19, 2017

Elliptic Labs offers ultrasound sensor for Qualcomm's Neural Engine

Elliptic Labs, a start-up with headquarters in Oslo and offices in San Francisco, and Shanghai have demonstrated its touch-free ultrasound gesture technology running on the Qualcomm Snapdragon 845 Mobile Platform using the Snapdragon Neural Processing Engine (NPE).

Elliptic Labs’ ultrasound virtual sensors can be implemented in electronic devices, such as laptops, tablets and smartphones, to detect natural hand movements in the air above, in front of and to the side of the screen. The detected hand movement can trigger actions such as taking a selfie or group photo.

Elliptic Labs’ ultrasound virtual sensors can also now be used in conjunction with the Snapdragon
NPE’s machine learning and artificial intelligence optimization tools.

Elliptic Labs noted that its INNER BEAUTY proximity sensor technology is used in the hugely popular Mi Mix phone from Chinese powerhouse Xiaomi.

“Any OEM or developer using the Snapdragon Neural Processing Engine from Qualcomm Technologies can now benefit from our expertise in machine learning and user experience design,” said Laila Danielsen, CEO of Elliptic Labs. “Whether people want to use our technology to take pictures, record videos or play music, it is clear that intuitive, touch-free gestures are important for the next generation of user experiences in the mobile, VR and IoT markets. Leveraging NPE, we are able to more rapidly deliver touch-free gestures that are natural extensions of human interaction.”

Qualcomm unveils Snapdragon 845 Mobile Platform

Qualcomm introduced its latest generation Snapdragon 845 Mobile Platform, promising the performance for eXtended reality (XR), on-device artificial intelligence (AI), lightning-fast connectivity, and featuring a new secure processing unit (SPU) for protecting mobile devices.

The Snapdragon 845 Mobile Platform includes an integrated Qualcomm Spectra 280 image signal processor (ISP) and Qualcomm Adreno 630 visual processing subsystem for cinematic video capture by flagship mobile devices. It is designed to deliver innovations for new XR experiences that span virtual, augmented and mixed reality. Snapdragon 845 is the first mobile platform to enable room-scale 6 degrees of freedom (6DoF) with simultaneous localization and mapping (SLAM)—for features such as wall-collision detection. Additionally, Snapdragon 845 introduces “Adreno foveation,” which substantially reduces power consumption, improves visual quality and boosts XR application performance, as compared to the previous generation.

“As leaders in mobile technology, we will transform the mobile experience with comprehensive advancements in visual processing, AI, security and connectivity,” said Alex Katouzian, senior vice president and general manager, mobile, Qualcomm Technologies, Inc. “The Snapdragon 845 Mobile Platform is the next horizon of innovation and is going to transform the way people use their mobile devices to make their lives better.”

The Snapdragon 845 Mobile Platform is currently sampling.

...


Monday, December 11, 2017

Elliott Advisors says Qualcomm's bid for NXP is too low

Elliott Advisors (UK), which advises funds that collectively hold an economic interest in NXP Semiconductors of approximately 6%, published an open letter stating that Qualcomm's offer to acquire the company is too low. Elliot believes NXP is worth $135 per share on an intrinsic standalone basis – far above the $110 offered by Qualcomm.

Elliott states Qualcomm’s offer of $110 per share is acting as "a ceiling on NXP’s valuation", noting that NXP’s peers have traded up 65% since rumors of Qualcomm’s interest arose.

“We believe NXP’s prospects are bright. Approximately half of NXP’s revenue is exposed to exciting growth engines of the semiconductor market – automotive and industrial,” Elliott stated in its letter to shareholders. “We believe NXP shareholders have the opportunity to unlock a material valuation gap that exists today.”

Qualcomm to Acquire NXP -- Engines for the Connected World

Qualcomm agreed to acquire all of the issued and outstanding shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. The deal will be financed through cash on hand and $11 billion in new debt. The companies expect total annualized synergies of $500 million within two years of close.

NXP Semiconductors N.V., which headquartered in Eindhoven, Netherlands, employs approximately 45,000 people in more than 35 countries and is known for its mixed-signal semiconductor electronics. The company was known as Philips Semiconductor prior to 2006.

Key markets include automotive, broad-based microcontrollers, secure identification, network processing and RF power. NXP has a broad customer base, serving more than 25,000 customers through its direct sales channel and global network of distribution channel partners.

For Q3 2016, NXP reported revenue of $2.469 billion, up 4.4% over a year ago, and GAAP gross profit of $1.184 billion, up 7.7% over a year ago.

The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.

Wednesday, December 6, 2017

Qualcomm unveils Snapdragon 845 Mobile Platform

Qualcomm introduced its latest generation Snapdragon 845 Mobile Platform, promising the performance for eXtended reality (XR), on-device artificial intelligence (AI), lightning-fast connectivity, and featuring a new secure processing unit (SPU) for protecting mobile devices.

The Snapdragon 845 Mobile Platform includes an integrated Qualcomm Spectra 280 image signal processor (ISP) and Qualcomm Adreno 630 visual processing subsystem for cinematic video capture by flagship mobile devices. It is designed to deliver innovations for new XR experiences that span virtual, augmented and mixed reality. Snapdragon 845 is the first mobile platform to enable room-scale 6 degrees of freedom (6DoF) with simultaneous localization and mapping (SLAM)—for features such as wall-collision detection. Additionally, Snapdragon 845 introduces “Adreno foveation,” which substantially reduces power consumption, improves visual quality and boosts XR application performance, as compared to the previous generation.

“As leaders in mobile technology, we will transform the mobile experience with comprehensive advancements in visual processing, AI, security and connectivity,” said Alex Katouzian, senior vice president and general manager, mobile, Qualcomm Technologies, Inc. “The Snapdragon 845 Mobile Platform is the next horizon of innovation and is going to transform the way people use their mobile devices to make their lives better.”

The Snapdragon 845 Mobile Platform is currently sampling.  Key specs:

Qualcomm Spectra 280 ISP

-Ultra HD premium capture

-Qualcomm Spectra Module Program, featuring Active Depth Sensing
-MCTF video capture

-Multi-frame noise reduction

-High-performance capture up to 16MP @60FPS

-Slow motion video capture (720p @480 fps)

-ImMotion computational photography

Adreno 630 Visual Processing Subsystem

-30% improved graphics/video rendering and power reduction compared to previous generation

-Room-scale 6 DoF with SLAM

-Adreno foveation, featuring tile rendering, eye tracking, multiView rendering, fine grain preemption
-2K x 2K @ 120Hz, for 2.5x faster display throughput

-Improved 6DoF with hand-tracking and controller support

Qualcomm® Hexagon™ 685 DSP

-3rd Generation Hexagon Vector DSP (HVX) for AI and imaging

-3rd Generation Qualcomm All-Ways AwareTM Sensor Hub

- Hexagon scalar DSP for audio

Snapdragon X20 LTE Modem

- Support for 1.2 Gbps Gigabit LTE Category 18

- License Assisted Access (LAA)

- Citizens Broadband Radio Service (CBRS) shared radio spectrum

- Dual SIM-Dual VoLTE (DSDV)

Connectivity

Multigigabit 11ad Wi-Fi with diversity module
Integrated 2x2 11ac Wi-Fi with Dual Band Simultaneous (DBS) support
11k/r/v: Carrier Wi-Fi enhanced mobility, fast acquisition and congestion mitigation
Bluetooth 5 with proprietary enhancements for ultra-low power wireless ear bud support and direct audio broadcast to multiple devices
Secure Processing Unit

- Biometric authentication (fingerprint, iris, voice, face)

- User and app data protection

- Integrated use-cases such as integrated SIM, Payments, and more

Qualcomm Aqstic Audio

Qualcomm Aqstic audio codec(WCD934x):
Playback:

Dynamic range: 130dB, THD+N: -109dB
Native DSD support (DSD64/DSD128), PCM up to 384kHz/32bit
Low power voice activation: 0.65mA
Record:

Dynamic range: 109dB, THD+N: -103dB
Sampling: Up to 192kHz/24bit
Qualcomm® Quick Charge™ 4+

Kryo 385 CPU

-Four performance cores up to 2.8GHz (25 percent performance uplift compared to previous generation)

- Four efficiency cores up to 1.8GHz

-2MB shared L3 cache (new)

-3MB system cache (new)

10-nanometer (nm) LPP FinFET process technology

Tuesday, December 5, 2017

Qualcomm targets Windows 10 on Snapdragon

Qualcomm and Microsoft confirmed progress made over the last several months to deliver Windows 10 on Snapdragon. The idea is to use mobile phone processors to run light notebooks.

The first Windows on Snapdragon device will be a 2-in-1 convertible ASUS NovaGo that is expected to hit the market early next year.

A second device will be a detachable HP ENVY x2 Windows on Snapdragon Mobile PC.

Both will be fanless design and will offer support for Gigabit LTE connectivity.

Later this week, Qualcomm is expected to preview its next-gen Snapdragon 845 Mobile Platform.

Monday, December 4, 2017

Broadcom nominates 11 directors for Qualcomm's Board

Broadcom notified Qualcomm of its intention to nominate a slate of 11 individuals for election to Qualcomm's Board of Directors and to propose certain other matters for the consideration of Qualcomm stockholders at Qualcomm's 2018 Annual Meeting of Stockholders.  The nominated directors are:

  • Samih Elhage, former President of the Mobile Networks Business Group of Nokia Corporation. Previously held the role of Chief Financial and Operating Officer of Nokia Siemens Networks and Nokia Networks, subsidiaries of Nokia. Also served on the Boards of Alcatel-Lucent Corporation, Alcatel Shanghai Bell, and Quickplay Media Inc.
  • Raul J. Fernandez, Vice Chairman of Monumental Sports & Entertainment and former Chairman and CEO of ObjectVideo, Inc. Also served as CEO of Dimension Data North America and as Chairman, CEO and President of Proxicom, Inc. Serves on the Boards of AtSite, Inc. and Perfect Sense, Inc., and previously served as a Director of Kate Spade & Company.
  • Michael S. Geltzeiler, consultant for Temasek Holdings. Previously served as Senior Vice President and CFO of ADT Corporation and before that, CFO and Group Executive Vice President at NYSE Euronext. 
  • Stephen J. Girsky, Managing Partner of VectoIQ, an independent advisory firm. Previously served in a number of capacities at General Motors, including Vice Chairman. Serves on the Boards of United States Steel Corporation, Brookfield Business Partners, Drive.ai, and Valens Semiconductor Ltd. Previously served as a Director of GM following its emergence from bankruptcy and as Lead Independent Director of Dana Holdings Corp.
  • David G. Golden, Managing Partner at Revolution Ventures. Previously spent 18 years at J.P. Morgan, including five years as Vice Chairman and Director of technology, media and telecommunications investment banking. Serves on the Boards of Barnes & Noble Education, Inc. and Blackbaud, Inc. Previously served as a Director of Everyday Health, Inc. and Barnes & Noble, Inc. 
  • Veronica M. Hagen, retired President and CEO of Polymer Group, Inc. (later renamed AVINTIV Specialty Materials Inc). Also served as President and CEO of Sappi Fine Paper and held multiple positions at Alcoa, including Vice President and Chief Customer Officer and business unit president of Alcoa Engineered Products. Serves on the Boards of Newmont Mining Corporation, the Southern Company, and American Water Works Company, Inc. Previously served as a Director of AVINTIV, Jacuzzi Brands, Inc., and Covanta.
  • Julie A. Hill, owner of The Hill Company. Serves on the Board of Anthem, Inc. and was a Director of WellPoint Health Networks Inc. prior to its merger with Anthem. Has been a trustee of the Lord Abbett Family of Mutual Funds since 2004 and previously served as a Director of Lend Lease, Ltd., Resources Connection, Inc., and Holcim US. 
  • John H. Kispert, Managing Partner of Black Diamond Ventures. Previously served as President and CEO and a Director of Spansion, Inc. through its merger with Cypress Semiconductor Corporation. Serves on the Boards of Gigamon Inc. and Barracuda Networks, Inc. Previously served as a Director of Cypress, TriNet Group, Inc., and Extreme Networks, Inc., where he was Chairman. 
  • Gregorio Reyes, former Director and Chairman of the Boards of Dialog Semiconductor plc and LSI Corporation, and former Director of Seagate Technologies Public Limited Company. Previously was a co-founder and Chairman of Sunward Technologies Inc., Chairman and CEO of American Semiconductor Equipment Technologies, and President and CEO of National Micronetics. Held positions at National Semiconductor, Motorola, Fairchild Semiconductor, and Eaton.
  • Thomas S. Volpe, Managing Member of Volpe Investments LLC. Previously CEO of Dubai Group LLC, a diversified investment firm based in the United Arab Emirates, and before that, served as Chairman of Prudential Volpe Technology Group. Served on the Boards of Linear Technology Corporation and EFG-Hermes Holding Company.
  • Harry L. You, President, CFO and Director of GTY Technology Holdings Inc. Previously served as Executive Vice President in the Office of the Chairman of EMC Corporation. Served as CEO of BearingPoint Inc., Executive Vice President and CFO of Oracle Corporation and CFO of Accenture Ltd. Previously served as a Director of Korn/Ferry International.

Hock Tan, President and Chief Executive Officer of Broadcom, stated: "We have repeatedly attempted to engage with Qualcomm, and despite stockholder and customer support for the transaction, Qualcomm has ignored those opportunities. The nominations give Qualcomm stockholders an opportunity to voice their disappointment with Qualcomm's directors and their refusal to engage in discussions with us. In light of the significant value our proposal provides for Qualcomm stockholders, we believe Qualcomm stockholders would be better served by new independent, highly qualified nominees who are committed to maximizing value and acting in the best interests of Qualcomm stockholders."


Broadcom bids $130 billion to acquire Qualcomm

In what could become the largest tech merger to date, Broadcom announced a proposal to acquire all of the outstanding shares of Qualcomm for $70.00 per share in cash and stock, making the offer worth $130 billion in total, a 28% premium over the closing price of Qualcomm common stock on November 2, 2017

Broadcom cites the following benefits of a merged company:

  • Creates a Leading Diversified Communications Semiconductor Company: Qualcomm's cellular business is highly complementary to Broadcom's portfolio, and the combination will create a strong, global company with an impressive portfolio of technologies and products.
  • Accelerates Innovation to Deliver More Advanced Semiconductor Solutions to Global Customers: As a result of enhanced scale, reach and financial flexibility, the combined company will benefit from the ability to accelerate innovation and deliver more advanced semiconductor solutions to its broad global customer base.
  • Compelling Financial Benefits: The combined company will have an enhanced financial profile, benefiting from Broadcom's proven operating model with industry-leading margins. The combined Broadcom and Qualcomm, including NXP, will have pro forma fiscal 2017 revenues of approximately $51 billion and pro forma 2017 EBITDA of approximately $23 billion, including synergies. The transaction is expected to be accretive to Broadcom's Non-GAAP EPS in the first full year after close.

"Broadcom's proposal is compelling for stockholders and stakeholders in both companies. Our proposal provides Qualcomm stockhold

See also