The internet of things (IoT) has many facets hidden behind one convenient but often misleading label. However, certain features are common whether it refers to traditional M2M applications, connected cars or virtual reality wearables ‘ it will need ultra-low cost and ultra-low power chips, which can still make a profit for their providers. All the established mobile chip vendors are chasing after this market for its superior growth potential, but some of the majors are likely to step back from the business of churning out millions of extremely low-margin microcontrollers and sensors. The existing processes and business models of companies like Intel and Qualcomm are better adapted to supplying platforms for larger IoT elements such as gateways or media devices,…