Leading semiconductor solutions provider Broadcom Corporation (BRCM) recently introduced BCM59350 multi-standard wireless charging Power Management Unit (:PMU) for smartphones.
Broadcom aims to make wireless smartphone charging much more convenient and reliable for the consumers. The new chip will consist of a WICED (Wireless Internet Connectivity for Embedded Devices) component combined with a multi-standard smartphone PMU. It is compatible with all wireless charging standards and also enables charging performance with 50% less voltage requirement. This technology takes advantage of Rezence, a wireless power-transfer specification that charge devices that are not physically attached with a wire. It leverages Broadcom’s Wi-Fi and Bluetooth combined connectivity leadership for mobile platforms.
As per research firm IHS Technology, the demand for wireless charging is expected to grow exponentially over the next five years. The wirelessly charged devices to be shipped annually are likely to increase to over $50 million in 2014 and reach $900 million in 2018. This is expected to result in a combined market for wireless power receivers and transmitters worth $8.5 billion in 2018.
We believe that Broadcom will continue to experience solid momentum in its wireless business going forward with such novel products. Broadcom is focused on innovating technologies related to connectivity, bandwidth and content, which enable it to capture a sizeable market share.
Based in Irvine, CA, Broadcom is engaged in designing and marketing semiconductor components of network voice, video, and data traffic for various applications. It is well placed in the fast-growing wired and wireless communications markets, with cutting-edge solutions for a growing number of connected users who are demanding more content and bandwidth.
Broadcom currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look in the industry include Cypress Semiconductor Corporation (CY), Marvell Technology Group Ltd (MRVL) and Wi-Lan Inc (WILN), each carrying a Zacks Rank #1 (Strong Buy),