Qualcomm is ready for the next generation of high speed cellular networks as carriers will be ushering in 5G services within the next couple of years. According to a new report by the Wall Street Journal, Qualcomm will have sample quantities of its Snapdragon X50 modem chip ready to go during by mid 2017.

Consumers continue to demand mobile devices that deliver optimal productivity and entertainment performance. To accommodate on-the-go lifestyles, network carriers and chip makers must evolve. Qualcomm promises that its Snapdragon X50 chip will surpass the top speeds most networks provide, delivering download speeds of up to a whopping 5 gigabits per seconds. This type of capability is 100 times faster than existing LTE network speeds so it will be able to adapt to long term evolution.

To remain competitive with fixed-line internet service rivals, Verizon talked about launching 5G by 2017. Most of telecommunications network carriers won’t offer this type of ultra high speed internet service until 2020. Mobile subscribers are likely to incur enhanced premium data services as well as enhanced prices when the new technology rolls out. On the other side of the globe, South Korean wireless carriers are slated to kick off 5G class wireless service in February 2018 to coincide with the Winter Olympics.

Qualcomm has a reputation of introducing technology early on and is regarded as the largest supplier of cellular modem processors to smartphone manufacturers. The San Diego based company maintains partnerships with top handset makers such as Google, HTC, LG, Samsung and more. Competitors like MediaTek and Intel are also drafting up blueprints for an aggressive moves to supply 5G chips since it couldn’t make it happen in LTE-based smartphones. Intel was able to take a leap forward, teaming up with Apple to provide mobile chips in some of the new iPhone 7 models. Back in September 2013 when the Samsung made 64-bit Apple A7 chip was announced, Qualcomm had to scramble to make its own competing 64-bit system-on-chip which spawned the Snapdragon 810 and 808 processors. Although Qualcomm surpasses rival Intel in terms of market capitalization, it still must stay on its toes in a highly competitive playing field.