Silicon Image Delivers 8K SuperMHL Compatible Chip

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Its not competing, its not even in the same areas as hdmi, it can do everything hdmi can but hdmi either cannot or will not be able to the things this was designed to do such as alloy power delivery and use USB Type C connectors (which is the go to port for all smart phones now... except Apple, who won't use the better alternative because then they'll have to sell their unbranded cheap chinese chargers at 1/4 the price they're used to)
 
Its not competing, its not even in the same areas as hdmi, it can do everything hdmi can but hdmi either cannot or will not be able to the things this was designed to do such as alloy power delivery and use USB Type C connectors (which is the go to port for all smart phones now... except Apple, who won't use the better alternative because then they'll have to sell their unbranded cheap chinese chargers at 1/4 the price they're used to)
Actually the next Apple phone coming this fall is said to be using the USB Type C connector and their new macbook uses it too... so I think it is safe to expect that Apple is also moving towards this tech...
 

While it should become the go-to port for new phones and tablets, I doubt it will actually become the go-to port for another year or two due to the current lack of Type-C accessories and people's general dislike for having to carry tons of adapter or cross-standard cables.
 


TLDR; I think the Type-C connector will very quickly make its way to new devices from low range all through high end, but only high end devices will support the new 3.1 standard for speed and power. (Connector and cables are backwards compatible with previous gen client/host interface IC's).

Given that the new (high-end) models coming out either have confirmed or are expected to have usb-c, I think it will happen faster than you think.

The fact that USB-c connectors and cables can be used on USB 3.0 (or 2.0) hosts/clients, this means that even mid and low end devices can switch to that connector even if the speed/throughput/power remains at the previous generation. Given that the new connector is (claimed to be) superior in every way, from durability to usability, I think the market will see a huge uptick in both devices and accessories this year.

Keep in mind that the highest cost (in terms of engineering and design work) isn't dependent on the connector form-factor, but lies with issues getting 3.1 speeds properly supported at the trace/board level.
 
It sounds great but so far i do not see anything that is able to use it so it is a great theoretical cable standard but not useable until something is compatible with it that can connect to another device that is compatible with it too.
 
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