Qualcomm (QCOM), Tencent's IEG Enter Innovation Collaboration
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Qualcomm (Nasdaq: QCOM) through its subsidiary, Qualcomm Wireless Communication Technologies (China) Limited, announced a strategic relationship with the Interactive Entertainment Group (IEG) of Tencent, to identify and create leading immersive mobile user experiences in gaming and entertainment. The collaboration includes a joint innovation center designed to explore new user gaming and application experience in the future by utilizing the strengths of both parties.
"As virtual and augmented reality deployment accelerates, mobile has many distinct advantages, such as making it possible to enjoy incredibly immersive content wirelessly virtually anywhere you go, along with the scale of a large existing customer base, excellent development tools and high performance, the power efficient mobile Qualcomm® Snapdragon™ 800 series processor, will accelerate the next generation of VR and AR applications," said Adrian Ong, vice president, business development, Qualcomm China. "The relationship between Tencent and Qualcomm Wireless Communication Technologies (China) Limited will help accelerate these new, mobile AR and VR gaming and entertainment experiences, as we utilize the best of both companies' technologies and engineering expertise."
As consumer appetites grow for the development of high quality and differentiated mobile augmented reality (AR) and virtual reality (VR) gaming experiences, the need for stronger relationships across the industry will become even more important.
"The joint innovation center will attempt to fully utilize Qualcomm Wireless Communication Technologies (China) Limited's latest technologies and mobile devices based on Snapdragon, to develop and optimize more superior gaming products for Chinese players," said Zhiming Nie, general manager, interactive entertainment R&D department, Tencent. "This will provide excellent gaming experiences and superior services to meet the high requirements of Chinese consumers."
The new joint innovation center will attempt to utilize new technologies from Qualcomm Wireless Communication Technologies (China) Limited in future conditional projects, while the center receives fast and direct access to technology and services support.. Tencent, is the top game content provider in China, and Qualcomm Wireless Communication Technologies (China) Limited is a world leader in mobile processors. This combination of brands, technology and engineering prowess can provide consumers with cutting-edge gaming and immersive entertainment experiences, driven by the worldwide adoption of AR and VR supported devices.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Qualcomm (QCOM), Microsoft (MSFT) Enter Collaboration for Windows 10 on Snapdragon-Powered Mobile Devices
- Duke Energy Renewables Announces Acquisition of Victory Solar Power Project (DUK)
- Catyalyst Pharma (CPRX) Updates on Amifampridine Phosphate Trial in CMS Patients
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!