Dallas, Texas 10/10/2013 (Financialstrend) – San Jose based Atmel Corporation (NASDAQ:ATML) announced on October 2, that one of its flag ship controllers has been short listed by the recently launched Chinese Smartphone maker Xiaomi.
Xiaomi has been a disruptive upstart in the Chinese market which has generated a huge interest in the burgeoning Chinese market for smart phones and tablets. This smart phone maker has chosen to embed Atmel’s “maXTouch® mXT540S controller” into its recently launched 5 inch wide touch screen smart phone. This smart phone offers high definition video screen with full blown features which rival the bells and whistles functionality provided by larger entrenched players like Samsung android phones and Apple iPhones.
ATML hopes to show case its top notch noise technology in mXT540S to other vendors. The Atmel controller has demonstrated signal to noise ratios which other competitors are struggling to match.
Atmel Corporation’s Jon Kiachian who is a Vice President in its Touch Marketing division is quoted to have said that “We are thrilled that Xiaomi has selected our maXTouch controller and we look forward to collaborating with them on future designs.”
Atmel is emerging as one of the top smart phone component suppliers in the industry today. It holds patents for touch sensors which are used by leading smart phone and tablet manufactures like Nokia, Sony and Asus. It microcontrollers are much sought after by cell phone manufactures and is driving the revenue generation of this $3.05 billion market cap company. It shares as of close of business on October 9 was hovering around $7.12 per share. This indicates a 1.86% increase over its previous day close. The stock which has a market cap of 428 million had shed cclsoe to 9% of its market value over the past 30 days which it seems on course to recover.