Qualcomm's Snapdragon 8 Gen 3 To Power 1st Galaxy AI Smartphones, Galaxy S24 Series
Portfolio Pulse from Anusuya Lahiri
Qualcomm Technologies, Inc, a subsidiary of Qualcomm Inc (NASDAQ:QCOM), announced that its Snapdragon 8 Gen 3 Mobile Platform will power Samsung Electronics Co Ltd's new Galaxy S24 series smartphones. The Galaxy S24 Ultra will feature the chipset globally, while the Galaxy S24 Plus and S24 will include it in select regions. The Snapdragon 8 Gen 3 for Galaxy is designed to enhance AI capabilities, camera and gaming experiences, connectivity, and security with Qualcomm's 3D Sonic Gen 2 technology. Despite the announcement, QCOM shares dropped by 1.92% to $138.42.
January 17, 2024 | 6:00 pm
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Qualcomm's Snapdragon 8 Gen 3 Mobile Platform is set to power Samsung's Galaxy S24 series, indicating a strong partnership and potential growth in market share for Qualcomm's mobile chips. However, QCOM shares fell by 1.92% to $138.42.
The news of Qualcomm's technology being used in Samsung's new flagship phones is positive, indicating continued demand for their chipsets. However, the immediate stock price reaction was negative, which could be due to broader market conditions or investor expectations. The short-term impact is negative based on the stock's price action, but the long-term outlook could be positive if the partnership leads to increased sales.
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