Sony Corporation SNE announced the impending launch of high-precision Global Navigation Satellite System (GNSS) receiver LSIs for use in IoT and wearable devices. Sony Semiconductor Solutions’ GNSS receiver chips make use of high-frequency analog and digital signal processing circuits, combined with innovative designs to deliver accurate positioning.

The demand for GNSS receiver LSIs has been growing exponentially, thanks to IoT and wearable devices that utilize location information. Sony’s state-of-the-art receiver LSIs are likely to have the industry’s lowest power consumption for dual-band positioning operation. In addition to backing the conventional L1 band reception, they support the L5 band that is currently being expanded across GNSS constellations.

The algorithms enable steady, high-precision positioning even amid difficult conditions that are unique to wearable devices. Featuring built-in non-volatile memory, the LSIs will likely drive more opportunities to develop new products and services like smartwatches as well as other wearable devices that cannot use external power supplies. The design makes it possible to complete data processing in the products, in turn resulting in improved access speed.

The Sony Semiconductor Solutions Group’s device business is focused on image sensors and includes a variety of parts such as microdisplays, LSIs and laser diodes. In May, Sony Semiconductor Solutions collaborated with Microsoft MSFT to create solutions that make AI-powered smart cameras and video analytics easier to access for their mutual customers. Also, it introduced the corporate executive system, in view of Sony Group’s new management structure effective Apr 1, 2021.

Sony’s shares have returned 49.1% in the past year compared with 40% growth of the industry.

The Japan-based company has a long-term earnings growth expectation of 6.4% compared with the industry’s 14.8%. The Zacks Consensus Estimate for its earnings for the current year has been revised 23.5% upward in the past 30 days.

Sony carries a Zacks Rank #3 (Hold), at present.   

A couple of better-ranked stocks in the broader sector include Plantronics, Inc. PLT and Clearfield, Inc. CLFD, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Plantronics has a trailing four-quarter earnings surprise of 540%, on average. The company’s earnings beat the Zacks Consensus Estimate in three of the last four quarters.

Clearfield has a trailing four-quarter earnings surprise of 45.6%, on average. The company’s earnings topped the consensus estimate in two of the last four quarters.

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