Broadcom Corporation (NASDAQ:BRCM), the chip making company for datacenters and devices has introduced a device that can play a decisive role in the contemporary concept of “Internet of Things”. The new device is named as Wiced Sense. It is an amalgamation of circuits and chips that work together to allow hackers to turn the normal day to day machines like washing machines, microwave ovens and accessories into smart devices. This move from Broadcom Corporation (NASDAQ:BRCM) CEO, Scott McGregor, is perceived as a timely effort to make a plunge into the wearable and Internet of Things domain. Google recently spent around $3 billion to acquire Nest, which makes smoke alarms and machines. Other famous companies are also trying to innovate beyond the conventional smartphone and software race. Broadcom Corporation (NASDAQ:BRCM) shares are up by 35% this year.
Discussing Wiced Sense in a program on CNBC, Scott McGregor, Broadcom President & CEO said that Broadcom Corporation (NASDAQ:BRCM) thinks that Internet of Things will let users to enjoy connected devices in their homes. Every device will be connected with each other smartly and they will perform almost all the daily tasks ranging from security, washing, housekeeping and much more.
McGregor showed the new device from Broadcom Corporation (NASDAQ:BRCM) in the program. Wiced Sense is only for $20. It has Bluetooth, sensors, battery and everything that is needed to create and develop an application or a wearable, claimed Broadcom Corporation (NASDAQ:BRCM) CEO. He said that the company was looking to develop a product that will help people in home automation.
McGregor said that entry cost for the wearable industry is very low and this creates new opportunities. Broadcom Corporation (NASDAQ:BRCM) CEO thinks that all famous companies will continue to embark on the journey of creativity and technology in the wearables.
Bain Capital’s Brookside Capital owns around 4.6 million shares of Broadcom Corporation (NASDAQ:BRCM).