Qualcomm targets markets beyond phones with new 5G chip

Qualcomm Inc on Tuesday released a new chip for connecting devices to 5G networks that it hopes will be adopted for home internet use and inside businesses as a competitor to WiFi.

The San Diego chip designer is the biggest supplier of modem chips that connect smart phones and other consumer electronics to cellular data networks. Qualcomm is aiming to take advantage of the faster speeds possible with 5G network technology to expand its footprint in other markets.