Arlington, Va. - The NASDAQ OMX Group and the Consumer Electronics Association announced today the introduction of the NASDAQ OMX CEA Smartphone IndexSM, a new benchmark for the telecommunications sector focused on wireless, mobile devices with advanced communications functionality.
The NASDAQ OMX CEA Smartphone Index, comprised of 84 companies, is meant to be a modified market capitalization index that includes companies that are primarily involved in the building, design and distribution of handsets, hardware, software and mobile networks associated with the development, sale and usage of smartphones.
It is said to be calculated in real-time across the combined exchanges and disseminated by NASDAQ OMX in U.S. dollars.
"This index brings sharper focus to an industry that is transforming the world's ability to communicate, work and interact with each other," said NASDAQ OMX executive VP John Jacobs, in a statement. "Investors, thanks to this index, can now easily track companies that are working diligently to combine the benefits of the phone and computer in a single device."
"The consumer electronics industry is known for innovation in technology, and we are delighted to work with NASDAQ OMX to bring new innovation to financial products," said Shawn DuBravac, chief economist and research director at CEA. "Smartphones represent the fastest-growing segment of the wireless industry and the ability to track this sector through an index provides a great new tool for investors."