Q.jpg (Photo : Reuters)
Speaking to the media on Friday, a senior vice president at Qualcomm, the global leader in mobile phone chip technology, explained that the San Diego, Calif., corporation is "passionate about innovation."
The proof behind Nagraj Kashyap's statement is evident in the four Chinese startups that have been selected for its $40-million investment: eye-tracking developer 7Invensun; mobile entertainment company Chukong Technologies; inPlug, which focuses on smart-home technology; and Unisound, a voice recognition startup.
Kashyap is part of Qualcomm's investment arm, Qualcomm Ventures, and Friday's announcement shows that ongoing issues within China are not getting in the way of Qualcomm's leading role in the development of the Internet of Things.
The SVP spoke of a "competitive wireless ecosystem" in relation to the world's largest mobile phone market that has just rolled out super-fast 4G LTE wireless networks, which Qualcomm can supply with LTE radios as well as other corresponding technologies.
However, Qualcomm's legal team is being kept busy, as an ongoing investigation by Chinese antitrust authorities over antimonopoly activity is yet to be decided--with a suggested billion-dollar fine--while Qualcomm is still untangling itself from a licensing dispute with a Chinese mobile phone manufacturer.
Additionally, it is still investigating its own accusations toward certain Chinese partners, who it believes have withheld royalty payments. The refusal from Chinese companies to license Qualcomm products might be connected to these continuing problems.
The $40-million investment will be facilitated through the China Walden Venture Investments Fund, which will also receive part of the funds for semiconductor-related business in China.
Friday's news comes on the heels of the $150 million that Qualcomm committed to young Chinese ventures at the start of 2014. Qualcomm also made a massive downsizing last week that involved the removal of 600 redundant positions in the company.
