Verizon-Qualcomm Set Up Manufacturer Venture

NEW YORK (AP) -- Qualcomm Inc., a provider of wireless technology, and carrier Verizon Wireless announced Tuesday that they will set up a joint venture designed to help manufacturers connect their devices to Verizon Wireless' network.

Like other big wireless carriers, Verizon Wireless is trying to court manufacturers to get gadgets other than phones, like laptops, electricity meters and tracking devices, to use the cellular network.

Qualcomm makes the chips that helps phones and other devices connect to wireless networks.

The joint venture, as yet unnamed, will supply software and services to help create wireless devices, and activate and manage them for manufacturers.

Verizon Wireless competitor AT&T Inc. announced last week that it had teamed up with Jasper Wireless to provide similar services. Jasper already manages wireless connectivity for non-phone devices.

Shares of Qualcomm fell 46 cents to $46.02 in morning trading, while shares of Verizon added 4 cents to $31.05.

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