NXP Semiconductor (NASDAQ:NXPI) CEO Rick Clemmer is optimistic that 2013 will be the year that near-field communications, or NFC, takes off. As the leading supplier of NFC chips, NXP has been waiting for this trend to gain meaningful traction. Clemmer even believes his company will outpace the broader market by 50%. Google (NASDAQ:GOOGL) sparked the interest recently in using NFC for mobile payment solutions, but the technology faces a chicken-and-egg problem among merchants and consumers. Apple (NASDAQ:AAPL) has decided not to use NFC in the iPhone 5, which some industry watchers were hopeful of since that would have catalyzed further adoption. Even if NFC starts gaining ground, competitors like Skyworks Solutions (NASDAQ:SWKS) could cross-sell to Apple for NFC wins.
Evan Niu, CFA
Nov 14, 2012 at 7:31PM
Evan is a senior technology specialist at The Motley Fool. He was previously a senior trading specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
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