Quick Note: Broadcom to Enter LTE Market in 2013
December 10, 2012 9:18 AM
Broadcom wants a bigger piece of the pie
Broadcom announced last week that it would make a move next year to help it compete on more even footing with
larger rival Qualcomm
. Broadcom said that it will provide sample chips supporting the latest high-speed wireless service, LTE, to top mobile phone customers in 2013.
Broadcom CEO Scott McGregor declined to give an estimate for timing on production of commercial smartphones using the company’s LTE hardware, but he did offer a list of "signposts" that investors can look for in 2013 reports
McGregor said, "We need to be there. We're not there today."
Broadcom is upbeat on its LTE prospects. The company already offers Wi-Fi chips that are used in some the most popular mobile devices on the market from Apple and Samsung.
The news of Broadcom's LTE plans sent shares in the company up 2.4% in trading last week. The company also announced that it was increasing its financial targets for the current quarter.
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