The stock of STMicroelectronics NV (ADR) (NYSE:STM) closed at $17.77 gaining 1.72% in yesterday’s trading session. The company has made an announcement regarding the integration of its contactless NFC technology with MediaTek’s mobile platforms.
It is optimistic that this will help significantly. It might turn out to be the most appropriate solution for the various handset developers to design next-generation smartphones. These devices will be enabled to support the tightly integrated NFC mobile services.
In the near future, it is most likely that the various mobile payments will be experiencing triple-digit growth, with contactless transport ticketing also spiking up in Asia. The integration of ST’s NFC chipset with the MediaTek mobile platforms might lead to the two partners doing something remarkable in the industry.
They might end up helping mobile OEMs overcome major technical challenges such as antenna miniaturization, antenna design and integration as well as the bill-of-material optimization. It will at the same time be assuring interoperability with payment terminals in areas like transportation hubs and retailers.
At the moment, MediaTek is undoubtedly the world’s second-largest supplier of mobile-handset solutions. The recent addition of ST’s technology is a proper demonstration of the high contactless performance relative to alternative platforms.
The Group Vice President working with STMicroelectronics opined, “ST will provide its NFC technology to MediaTek, to deliver high contactless performance solutions to OEMs with a focus on cost and integration optimization through smaller antennas and reduced bill of materials.”
The top official added to say that as a company they were confident that they were on the right track, and had been doing all the right business moves. According to him, the newly acquired the market-proven booster technology ST will help them win over a lot of customers around the globe.
The company’s spokesperson while speaking on behalf of the provider invited customers from around the globe to take advantage of their high quality products saying that they were pretty easy to find in today’s times.