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Qualcomm acquires 0.15% stake in Jio for $97 million

13Jul By AdityaNo Comments

ACQUISITION

Qualcomm acquires 0.15% stake in Jio for $97 million

Mumbai, 13th July 2020: Billionaire Mukesh Ambani's Reliance Industries said it has secured $97 million (Rs 730 crore) from wireless technology leader Qualcomm makes total funding since April that has crossed $15.7 billion (Rs 1.18 lakh crore). "Qualcomm Ventures' investment will translate into 0.15 percent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement. With this round, Reliance Jio sold its 25.24 percent stake to companies like Facebook, Silver Lake, General Atlantic, Intel, etc. The company said the investment in Jio will deepen the ties with Qualcomm that will help Jio to rollout of advanced 5G infrastructure and services in India. Qualcomm is the world's leading wireless technology innovator and the driving force behind the develo...

iPhones to Come Up with 5G in the Year 2020

5Nov By Gauri SinghNo Comments

Tech

iPhones to Come Up with 5G in the Year 2020

The first 5G phones are all set to hit the market next year. Motorola is planning to bring next-gen connectivity via a Mod for the Z3, and companies like LG and OnePlus have promised to deliver the tech baked into handsets at some point in 2019. On the other hand, iPhone users may have to wait a little longer. The technology is, of course, an inevitability for Apple so it’s just a question that when will it arrive. A report anticipated the timing around a year and a half out. The “source with knowledge of Apple’s plans” put the 5G iPhone’s arrival at some point in 2020, with Intel supplying the tech this time out. Apparently, Apple and Intel are going through a bit of a rough patch of late, courtesy of heat/battery issues with the 8060 5G modem. Of course, things aren’t rough enough ...

Amazon Partners with Qualcomm to put Alexa assistant in More Headphones

23Oct By Gauri SinghNo Comments

Tech

Amazon Partners with Qualcomm to put Alexa assistant in More Headphones

Amazon is joining hands with microchip firm Qualcomm for the purpose of spreading the use of Amazon's Alexa voice assistant in wireless headphones. Following the deal, Qualcomm will release a set of chips that any maker of Bluetooth headphones can use to embed Alexa directly into the device. With this, when the headphones are paired to a phone with the Alexa app on it, the users will be able to talk to the voice assistant by pressing a button on the headphones. The functioning of the device would be similar to Apple's AirPods wireless earbuds, which enable users can tap the devices to talk to Apple's virtual assistant, Siri. Qualcomm has developed a pre-made circuit that headphone makers can drop into their device to imbue it with Alexa. "This radically reduces their cost and time t...

World’s Highest-Valued AI Company Raises $1.2 Billion Within 2 Months

2Jun By Gauri SinghNo Comments

FUNDING

World’s Highest-Valued AI Company Raises $1.2 Billion Within 2 Months

China's leading artificial intelligence company, SenseTime has raised $620 million in its latest Series C+ round of fundraising, being the world's highest-valued AI company at a valuation of more than $4.5 billion. The company had raised $600 million last month Alibaba-led investors and Singapore’s state investment firm and now is back with an upraise. The latest funding of the startup is being carried on in association with some well-known and noteworthy companies - Fidelity International, Hopu Capital, Silver Lake and Tiger Global. SenseTime confirmed that Qualcomm, which formerly sponsored the firm, was also in this round. The new investment brought the amount raised to more than $1.2 billion and tripling its valuation in under a year. SenseTime is at present valued at over $4.5 bill...

10May By Lavina TolaniNo Comments

CHINA

China’s ZTE Main Business Operations Cease after USA Ban

Chinese Multinational Agglomerate, ZTE was hit by a ban from Washington, forbidding U.S firms from supplying it with components and technology allegations of violating against U.S export restrictions by illegally shipping goods to Iran. The U.S ban which threatens to cut ZTE supply chain came amidst the heightened tensions over a possible China-U.S Trade War. The Chinese government too had raised the issue of the ban while visiting U.S trade delegation. In its exchange filings on Wednesday, ZTE said, "As a result of the Denial Order, the major operating activities of the company have ceased. As of now, the company maintains sufficient cash and strictly adheres to its commercial obligations subject in compliance with laws and regulations." The U.S. action which was first reporte...

Qualcomm Draws Up Plans To Rebuff Broadcom’s $103B Offer: Sources

13Nov By reutersNo Comments

News

Qualcomm Draws Up Plans To Rebuff Broadcom’s $103B Offer: Sources

U.S. chipmaker Qualcomm Inc is making preparations to reject rival Broadcom Ltd’s $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles. Qualcomm’s board of directors could meet as early as Sunday to review the unsolicited acquisition offer and decide on its strategy, the sources said. The preparations for the board meeting indicate that Qualcomm is poised to rebuff the bid as insufficient as early as Monday, although it may decide to spend a few more days this week to prepare its full response to Broadcom, the sources added. Qualcomm Chief Executive Steven Mollenkopf has spent the past few days soliciting feedback from Qualcomm shareholders, and feels that Broadcom’s $70-per-share b...

Bargaining Chip? China Seen Closely Scrutinising Qualcomm, Broadcom Deal

7Nov By reutersNo Comments

BUSINESS

Bargaining Chip? China Seen Closely Scrutinising Qualcomm, Broadcom Deal

A potential mega-merger between chipmaker Broadcom Ltd and U.S. rival Qualcomm Inc is likely to face stern scrutiny in China, antitrust lawyers say, amid a strategic push by Beijing into semiconductors. Broadcom made an unsolicited $103 billion bid for Qualcomm on Monday, aimed at creating a $200-billion-plus behemoth that could reshape the industry at the heart of mobile phone hardware. But Chinese regulatory approval could be a hold-up. Beijing and Washington have sparred over technology deals, including in chips, with the Committee on Foreign Investment in the United States (CFIUS) knocking back a number of takeovers involving Chinese firms this year. The thorny topic is likely to come up when U.S. President Donald Trump visits China this week - with Qualcomm executives in tow....

Apple Could Drop Qualcomm Components In Next Year’s iPhones, iPads: Sources

31Oct By reutersNo Comments

Tech

Apple Could Drop Qualcomm Components In Next Year’s iPhones, iPads: Sources

Apple Inc has designed iPhones and iPads that would drop chips supplied by Qualcomm Inc, according to two people familiar with the matter. The change would affect iPhones released in the fall of 2018, but Apple could still change course before then, these people said. They declined to be identified because they were not authorized to discuss the matter with the media. The dispute stems from a change in supply arrangements under which Qualcomm has stopped providing some software for Apple to test its chips in its iPhone designs, one of the people told Reuters. The two companies are locked in a multinational legal dispute over the Qualcomm’s licensing terms to Apple. “We are committed to supporting Apple’s new devices consistent with our support of all others in the industry,” Qual...

14Oct By reutersNo Comments

CHINA

Qualcomm Files Lawsuits In China To Ban iPhones

Qualcomm Inc confirmed an earlier report that the chipmaker had filed lawsuits in China, seeking to halt the manufacture and sale of Apple Inc’s iPhones in the country. Qualcomm filed the suits in a Beijing intellectual property court, claiming patent infringement and is seeking injunctive relief, a company spokeswoman confirmed on Friday, but did not provide further details. Bloomberg had earlier reported about the lawsuits in China. Apple’s shares were marginally up, while Qualcomm shares were marginally down in late-afternoon trading. The iPhone maker has always been willing to pay fair and reasonable rates for the patents it uses, Apple told Reuters in an email. “In many years of ongoing negotiations with Qualcomm, these patents have never been discussed and in fact were o...

None of Mobile Payment Apps in India Fully Secure: Qualcomm

14Dec By PriyankaNo Comments

News

None of Mobile Payment Apps in India Fully Secure: Qualcomm

While government is pushing for digital payments through mobile phones, chipset maker Qualcomm said that wallets and mobile banking applications in India are not using hardware level security which can make online transactions more secure. "You will be surprised because most of the banking or wallet apps around the world don't use hardware security. They actually run completely in Android mode and users password can be stolen. Users use fingerprint which might be captured... in India that is the case for most of all digital wallets and mobile banking apps," Qualcomm Senior Director Product Management SY Choudhury told Pixr8. He said that even most famous digital payment application in India is not using hardware level security. "Reason we are saying that none of them is using it bec...

Qualcomm Nears $37Bn Deal to Buy NXP Semiconductors: Source

23Oct By reutersNo Comments

ACQUISITION

Qualcomm Nears $37Bn Deal to Buy NXP Semiconductors: Source

Qualcomm is nearing a deal to acquire NXP Semiconductors for around $37 billion, a person familiar with the matter said on Friday, as the U.S. company seeks to expand the reach of its chips from phones to cars. The deal would make San Diego-based Qualcomm, which supplies Android smartphone makers and Apple, a bigger supplier to the automotive industry as it grapples with slowing smartphone sales and stiff competition from Chinese and Taiwanese rivals. The acquisition of NXP by Qualcomm for $110 per share in cash could be announced within days, although there is always a possibility of a last-minute glitch, the source said, asking not to be identified because the negotiations are confidential. NXP shares dropped 2.5% on the news to $101.90, while Qualcomm shares were up 2.2% to $68...

Monsanto, Microsoft to Invest in Agricultural Technology in Brazil

5Jul By reutersNo Comments

FUNDING

Monsanto, Microsoft to Invest in Agricultural Technology in Brazil

U.S. biotech company Monsanto Co and Microsoft Corp announced on Monday a partnership to invest in agricultural technology startups in Brazil. Monsanto will join a Brazilian investment fund with up to 300 million reais ($92 million), managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country, executives said. Selected ideas will receive initial funding of up to 1.5 million reais ($459,000) for early development. Project owners will have the option to pay back the investment after three years or convert the money into equity. "We want to foster new startups in the agricultural sector. There is a vast area for research and development," Rodrigo Santos, head of Monsanto in Latin America, told reporters on the sidelines of the ...