In an attempt to enhance mobile vision technology, Qualcomm Connected Experiences, Inc. – the business arm of Qualcomm Inc. (QCOM) – recently unveiled a solution, Qualcomm Vuforia.

The Vuforia technology will help manufacturers upgrade digital eyewear devices and services by means of developing augmented reality (AR) applications. It will also enhance user experience by providing interactive 3D content which are to be visually aligned with the underlying world. This new technology can be widely used in the fields of hybrid VR/AR gaming, shopping, as well as education.

The Vuforia application will deliver advanced computer vision for easy tracking of images and objects which appear in the user's field of view. Moreover, the Qualcomm Snapdragon processors integrated into the application will reduce the motion-to-photon latency, thereby offering an authentic AR effect to the end users.

Qualcomm has come up with Vuforia SDK for Digital Eyewear technology mainly to keep abreast with the latest developments in the digital eyewear device market, which include ODG R-7 and Epson Moverio BT-200. Growing popularity of video games coupled with increased demand for 3D content will continue to drive demand for high quality digital glasses.

Meanwhile, Qualcomm launched Snapdragon 210 processors for low-cost smartphones supporting multi-band 3G and dual-mode 4GLTE connections, a few days back.

In the third quarter of fiscal 2014, the company shipped nearly 225 million CDMA-based MSM chipsets, up 31% year over year and generated revenues to the tune of $6.8 billion, up 9% year over year. We also believe that launch of such innovative products and services will further drive revenues moving ahead.

Currently, Qualcomm carries a Zacks Rank #3 (Hold).

Stocks That Warrant a Look

Other better-ranked stocks in the sector which are worth a look include Aruba Networks, Inc. (ARUN), NVIDIA Corporation (NVDA) and BlackBerry Ltd. (BBRY). All three have a Zacks Rank #2 (Buy).

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