Qualcomm Inc announced on Tuesday that it is putting 5G technology into chips that can be inserted in smartphones. The model will be sold at a price of $300. The American multinational conglomerate also said that the product will hit the market in the second half of the year, as per the Reuters report.

Qualcomm is the biggest seller of processors for smartphones and the modem chips that connect the phones to wireless data networks.

San Diego-based company further mentioned that its chips comprising fifth-generation (5G) cellular telecommunications technology are currently in many premium-priced smartphones including Samsung Electronics Co Ltd’s Galaxy devices.

Qualcomm is also working to get the feature into cheaper devices as well.

The new chip is called the Snapdragon 690 and will go into devices that it will be sold at a price between $300 to $500, Qualcomm said.

Phone makers such as HMD Global, the owner of the Nokia phone brand, LG Electronics Inc and Lenovo Group Ltd’s Motorola plan to use the chips, Qualcomm said as cited in the Reuters report.

Qualcomm is stressing on cheaper models as it will garner higher volumes for Qualcomm.

According to data from Counterpoint Research, smartphones with wholesales prices of $100 to $400, which are somewhat lower than the prices consumers pay, made up about 50 per cent of the overall smartphone market in the first quarter of 2020.

 

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