(QCOM) Qualcomm Set to Power More Handsets

Qualcomm Inc.(QCOM), the largest global manufacturer of mobile phone chipsets, is ready to supply its popular snapdragon microprocessors to 250 more handset devices. The company is already providing its chipsets to 125 handheld devices.

Qualcomm’s microprocessors, popularly known as Snapdragon, are becoming more and more popular as demand for smartphones and tablets are increasing. These chipsets allow proper functioning of software on mobile handsets.

Qualcomm’s next-generation Snapdragon processors are supported by Krait architecture, which is generally used in Android-powered 3G smartphones. The new processor provides speed up to 2.5GHz per core coupled with lower power consumption, better graphics and video streaming facilities.

Recently, the company also collaborated with Microsoft Corp. (MSFT) to provide chipsets for the upcoming Windows 8 software on PC’s. Qualcomm will also provide its microprocessors to Nokia Corp’s. (NOK) upcoming Windows Phone 7 based handsets. Even Sony Ericsson’s new Xperia handsets are powered by Qualcomm’s Snapdragon processors.

Recently, Qualcomm completed the acquisition of Wi-Fi chip set maker Atheros Communications, Inc., which will enable the company to diversify its operations in the consumer electronics segment, particularly in the home networking market.

Recently, the company reported impressive second quarter 2011 results where both the top line and bottom line exceeded the Zacks Consensus Estimate by a strong margin.

We maintain our long-term Neutral recommendation on Qualcomm. Currently, Qualcomm has a Zacks #3 Rank, implying a short-term Hold rating on the stock.

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