Qualcomm Incorporated QCOM recently announced a strategic partnership with leading technology company — Infinite Computer Solutions — to deploy smart city technology solutions that support digital transformation across the globe. The partnership will leverage Qualcomm’s Smart Cities Accelerator Program, which is specifically designed to fortify the development of secure and connected spaces across vertical industries. Markedly, the program is an undertaking of the tech giant’s Advantage Network. The latest collaboration aims to create an end-to-end managed solution that delivers Internet of Things-as-a-Service (“IoTaaS”) using Infinite’s engagement platform to promote the adoption of smart cities solutions on a large scale.
Markedly, Qualcomm’s Advantage Network offers a wide range of programs that cater to the requirements of various companies with best-in-class hardware, software and cloud capabilities. These include Head-Mounted Display Accelerator, XR Enterprise Program and IoT Hardware Accelerator. Notably, this innovative platform leverages new relationships and advanced technologies to bring together member companies for collaboration, tapping lucrative marketing opportunities and accelerating business development. The platform has been exclusively designed for companies who recommend Qualcomm technologies to drive innovation.
Qualcomm’s Smart Cities Accelerator Program, first launched in 2019, is designed to connect municipalities, government and enterprises with a well-managed ecosystem of providers to deliver cost savings, safety as well as sustainability with greater efficiencies. With years of expertise in commercially deployed solutions, it provides members with end-to-end smart city solutions, which are essential for the transformation of civic infrastructure. Markedly, the program’s out-of-the-box advancements in mobile connectivity and edge computing addresses a diverse range of smart city needs and provides priority access of co-marketing opportunities to its member companies like Altek Corporation and Accenture plc ACN.
Per the partnership, Qualcomm’s innovative program will be capitalizing on Infinite’s intelligent engagement platform — Zyter SmartSpaces — to provide a modular solution and ease digital transformation to address the requirements of Smart Space management across various industries ranging from healthcare and construction to manufacturing and logistics. Zyter is an innovation-driven software and integration platform that promotes rapid deployment of avant-garde technology solutions with lower costs of maintenance. Backed by an effective IoTaaS model, the strategic collaboration will leverage Infinite’s user experience, collective intelligence, analytics, AI and Qualcomm’s expertise in 5G and IoT technologies to reduce the fragmentation that has suppressed IoT-related smart city projects in the last few years.
Qualcomm is one of the largest manufacturers of wireless chipset based on baseband technology. The company is focused on three areas — computing, connectivity and electrification. It has successfully retained its leadership in 5G, chipset market and mobile connectivity with several technological achievements and innovative product launches. With more than 150 5G design wins, Qualcomm is reportedly the only chipset vendor with 5G system level solutions covering both sub-6, gigahertz and millimeter wave bands. Also, the launch of QCA6390 Connectivity SoC product is likely to provide Qualcomm a competitive advantage against its rivals. The company aims to expand its product portfolio and develop mobile phone chips for the masses.
Qualcomm has a long-term earnings growth expectation of 17.6%. Shares of this Zacks Rank #3 (Hold) stock has returned 13.5% against the industry’s decline of 3% in the past year.
A few better-ranked stocks in the industry are Ericsson ERIC and PCTEL, Inc. PCTI, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ericsson has a long-term earnings growth expectation of 26%.
PCTEL’s bottom line surpassed the Zacks Consensus Estimate thrice in the last four quarters. The company has a trailing four-quarter positive earnings surprise of 33.9%, on average.
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