The Rapid Expansion Of Google Wallet and The Death of Physical Currencies

06-09-2011 • nasdaq.com/

"Google will make NFC a success this time", Clemmer said, adding that all handset makers are looking into a technology that has also drawn the attention of banks and mobile carriers looking to diversify their revenue streams. Finnish mobile phone maker Nokia Corp. (NOK) also uses NXP's NFC chips in some of its devices. Still, other new technologies promise higher growth rates for NXP, Clemmer said. These include GreenChip--a new product that allows consumers and businesses using devices such as smartphones and personal computers to remotely turn lights on and off and set brightness while also saving on power--and authentication technology, which gives producers the ability to trace and verify the origin of raw materials and is another application layer the company is working on. Authentication could be a bigger market than NFC, but smaller than the Smart Home market, which includes chips for lighting, home automation, and smart metering, an addressable market expected to reach $4.5 billion by 2015, Clemmer said. The new technologies have in common that NXP doesn't just deliver chips, but also software and security programs, Clemmer said. And that is how NXP believes it can outpace the market.