Qualcomm launches upgraded mobile platforms, offers $11B in senior unsecured notes
Earlier this month, Qualcomm launched two new upgraded versions of its Snapdragon 500 series, the company’s upper-midrange and midrange mobile platforms featuring machine-learning capabilities, according to a report by Market Realist.
Snapdragon 630 and 660 platforms succeed the Qualcomm ’s Snapdragon 626 and 653 platforms.
During the company’s recent fiscal 2Q17 earnings call, Qualcomm CEO Steve Mollenkopf said that the Snapdragon 600 series would be featured in more than 200 devices and designs, while its 400 series would be featured in more than 190 devices and designs.
The system on a chip delivers machine-learning capabilities to smartphones through the Hexagon 680 DSP (digital signal processor) with Hexagon Vector extensions.
As a result, it is able to conduct a range of tasks including facial recognition, voice recognition, language detection, and filtering out of background noise.
The company also entered into a joint venture with China’s Datang Telecom and Jianguang Asset Management to develop low-cost smartphone chips, which should allow the companies to compete against Taiwan’s MediaTek and China’s Spreadtrum Communications.
Qualcomm also announced that it has priced a public offering of senior unsecured notes in a combined value of $11.0 billion, which is expected to close on or about May 26, according to a report by IoT Evolution World.
The company said it intends to use the proceeds to fund part of the price of its planned acquisition of NXP Semiconductors N.V. and other related transactions as well as for general corporate purposes.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are serving as joint book-running managers for the offering.
Previously reported, EyeLock demonstrated its iris biometric solution on the latest Qualcomm Snapdragon 835 mobile platform with X16 LTE at Mobile World Congress 2017.