Qualcomm Announces 3 New Chips, Best Buy Discounts Apple iPhone 5S, 5C

QUALCOMM, Inc. (NASDAQ:QCOM) made three product announcements in conjunction with CES, all of which move Qualcomm deeper into vertical markets dominated by the likes of Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), and NVIDIA Corporation (NASDAQ:NVDA).

Qualcomm Announces 3 New Chips, Best Buy Discounts Apple iPhone 5S, 5C

1) Snapdragon 602A

This is the first Snapdragon processor built specifically for the auto market. As connected cars become more commonplace and infotainment systems begin to look more like mobile computers, Qualcomm is logically extending into this market. Analysts at Raymond James note Qualcomm has sold baseband modems and connectivity chips into the auto market for over a decade.

2) Snapdragon 802

Ultra HD Processor for TVs/STBs – This is QUALCOMM, Inc. (NASDAQ:QCOM)’s first System on a Chip (SoC) design for smart TVs and set-top boxes. The 802 supports Ultra HD resolution, has integrated Wi-Fi connectivity, and supports all the necessary interfaces.

3) Smart Gateway 

Building on its QUALCOMM, Inc. (NASDAQ:QCOM) Internet Process (IPQ) announced in November, Qualcomm is launching a “smart gateway” (we presume a reference design for OEMs), that combines an IPQ processor, 802.11ac connectivity, Qualcomm’s StreamBoost technology, and an open app environment. The gateway is QUALCOMM, Inc. (NASDAQ:QCOM)’s vision of the hub that should connect all the devices in the smart home.

Apple: Best Buy discounts iPhone 5s and 5c

Last week Best Buy Co., Inc. (NYSE:BBY) announced it was discounting the iPhone 5s from $199 to $124.99 with a two-year contract and the iPhone 5c from $99 to free with a two-year contract on Friday and Saturday only. These are price cuts taken by Best Buy Co., Inc. (NYSE:BBY) and do not effect Apple Inc. (NASDAQ:AAPL)’s revenue. Notably,  Best Buy Co., Inc. (NYSE:BBY) also discounted the Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) Galaxy S4 to free, the HTC One to $29.99 and the LG G2 to $49.99 all with two-year contracts on Friday and Saturday only.

Analysts at Raymond James checked’s smartphone best-seller list midday on Friday to discover Apple Inc. (NASDAQ:AAPL)’s iPhone 5s and 5c held all 10 of the top 10 best-selling models and 14 of the top 15 with the remaining spot held by Samsung’s Galaxy S4. As of this morning, iPhone share has fallen back to 40% of the top 10 with Samsung’s Galaxy S4 holding the remaining 60%.