Thundersoft and Qualcomm Enter Chongqing Xiantao Big Data Valley through the formation of an Equity Joint Venture to help Accelerate IoT Ecosystem Development in China
CHONGQING, CHINA – February 29, 2016 – Thunder Software Technology Co., Ltd (Thundersoft), a leading Chinese smart device technology provider, announced that it has teamed up with Qualcomm (Guizhou) Investment Co., Ltd., Qualcomm’s investment entity in China, to establish an equity joint venture, Thundercomm Technology Co., Ltd. (Thundercomm), which will be located in the Chongqing Xiantao Big Data Valley. Qualcomm (Guizhou) Investment Co., Ltd. will be a minority shareholder in Thundercomm. Thundercomm is being established to help accelerate development and innovation in the Internet of Things (IoT) segment in China, including providing support for IoT solutions powered by Qualcomm Snapdragon™ processors, products of Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated. Thundercomm intends to provide support to IoT customers with “one-stop” products and services across various IoT segments.
Driving Converged Development of “Made in China” and “Internet Plus”
China has become a core region in global IoT development. IoT services in China are expected to exceed US$41 billion in revenue by 2020, leading all other countries in terms of growth rate in this segment, according to forecasts made by ABI Research. The formation of Thundercomm by Thundersoft and Qualcomm (Guizhou) Investment Co., Ltd. is a joint effort to further expand the IoT footprint to more smart hardwares based on connectivity and computing.
(Mu Huaping, Secretary of Yubei District Committee of CPC in Chongqing)
“China has great potential for IoT growth as the ecosystem is broad and continuously growing, and IoT is also an important industrial pillar for China to implement the “Internet Plus” strategy. Qualcomm is working with the world’s technology leaders, including Chinese vendors, on innovations to help meet the increasing customer demands in IoT,” said Frank Meng, chairman, Qualcomm China. “Thundercomm, formed in collaboration with Thundersoft, intends to help rapidly expand and meet the demand of diverse IoT segments, help local Internet firms to continue innovating with leading technology solutions and services, and support customers to create best-in-class connected experiences for enterprises and consumers.”
(Frank Meng, Chairman, Qualcomm China)
With the majority stake held by Thundersoft, Thundercomm will build an excellent technology team with a focus on IoT technical platforms and services. The new company plans to develop intelligent core modules and solutions based on Qualcomm Snapdragon processors, combine Qualcomm Technologies’ world-leading system-on-chip technology with Thundersoft’s strong operating system (OS) and localization capabilities, and provide customers with an integrated System on Module (SoM) solution including “core board + OS + core algorithm.” Customers will also have access to Qualcomm Technologies’ leading IoT technology platforms for Wi-Fi® and Bluetooth® connectivity, audio, cameras, drones and other applications. In the future, the SoM will be designed to act as the “brain” of hardware in IoT products and to be able to be widely used in diverse IoT segments as a result of its flexible capabilities. This should help customers to lower the threshold for product development, reduce time-to-market, and ultimately create competitive, differentiated IoT deices. The SoM will also help provide enterprises, entrepreneurs and innovators with a basic industrial platform, accelerate innovation and development in IoT and further drive converged development of “Made in China 2025” and “Internet Plus” strategies.
(Larry Geng, Chief Executive Officer, Thundersoft)
“Working with Qualcomm (Guizhou) Investment Co., Ltd. to create Thundercomm is a significant move by Thundersoft into IoT,” said Larry Geng, chief executive Officer, Thundersoft. “With Qualcomm Technologies’ superior chipset technology and Thundersoft’s resource strength in software and hardware integrated solutions, we believe Thundercomm will become an important industrial platform, as well as a driving force of the global smart hardware industry.”
Joining Forces in Chongqing to Build on the Existing Ecosystem that Supports Innovation
Thundercomm will be registered in Xiantao Big Data Valley, Yubei District of Chongqing. According to the Bureau of Statistics in Chongqing, as an important municipality in the West of China, Chongqing has enjoyed China’s leading GPD growth rate for eight consecutive years, including 11 percent growth in 2015. In recent years, Chongqing has increased its support for strategic emerging industries and has achieved excellent results. Chongqing has established one of the world’s largest smart device bases, forming a “complete device + component” industrial cluster and has made the electronic information industry the municipality’s leading pillar.
“Yubei District is committed to developing the smart hardware industry and making it an important region for smart manufacturing and innovation, according to the functional positioning requirement by the Municipal Committee of the CPC and the Municipal Government,” said Mu Huaping, secretary of Yubei District Committee of the Communist Party of China (CPC) in Chongqing, “Qualcomm working with Thundersoft to enter Xiantao Big Data Valley is a major milestone in the history of innovation and development in Yubei District. This type of collaborationt will help further improve the innovation environment in Xiantao Big Data Valley, as well as help build a smart hardware industry chain cluster integrating chipset and sensor design, sample development and manufacturing, IoT and big data, which in turn will make a significant contribution to building a national smart hardware industrial base in Chongqing.”
Qualcomm Snapdragon is a product of Qualcomm Technologies, Inc.
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