Wireless Companies Race to Consolidate Components Into Integrated Platform: A Wall Street Transcript Interview with Christopher Rolland, an Analyst and Vice President in the Technology, Media and Telecom Research Group of FBR Capital Markets

Wall Street Transcript

67 WALL STREET, New York - January 20, 2014 - The Wall Street Transcript has just published its Wireless Communications & Telecom Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: 4G Infrastructure Capital Expenditures - Tower Cell Splitting - Global Wireless Spectrum Allocation - Consolidation of Components - Integrated Wireless Platforms - Increased Competition in Wireless Space - Next Phase of 4G Buildout - New Site Leasing Activity

Companies include: Atmel Corp. (ATML), Broadcom Corp. (BRCM), Marvell Technology Group Ltd. (MRVL), Intel Corporation (INTC), NVIDIA Corporation (NVDA), QUALCOMM Inc. (QCOM), Texas Instruments Inc. (TXN), LSI Corporation (LSI) and many others.

In the following excerpt from the Wireless Communications & Telecom Report, an expert analyst discusses the outlook for the sector for investors:

TWST: What is your coverage in the wireless space?

Mr. Rolland: Within the wireless space as most people define it, I cover handsets. The specific companies I cover there are Atmel (ATML), Broadcom (BRCM), Marvell (MRVL), Intel (INTC), Nvidia (NVDA), Qualcomm (QCOM) and what used to be TI (TXN).

TWST: What are you seeing right now in terms of major trends in the handset space as we head into 2014?

Mr. Rolland: I would say what is happening in the industry overall is a consolidation between three previously discrete components into one major integrated platform. Those three components are the applications processor or AP; plus the baseband, which is essentially your cellular modem, plus your connectivity, Bluetooth, your Wi-Fi; and then typically your either NFC or FM receiver, all into one single chip, those different connectivity protocols.

These three discrete parts are now being integrated into one, and it's a race between a number of wireless companies and who can get there first. So far it looks like Qualcomm will be the winner, delivering this year in 2014, followed by Broadcom, which will be working very hard to get there in 2014, but probably won't get there till 2015, and then Intel and Nvidia; perhaps Marvell will be there in 2016 probably.

TWST: What is it that gives Qualcomm that edge to complete the integration first?

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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