Israeli specialty chip manufacturer TowerJazz and its joint venture with Panasonic have developed radio frequency (RF) technology that can improve battery life and boost data rates in fourth generation (4G) smartphones.

The technology can reduce power losses in a radio frequency switch by as much as 30 percent relative to existing technology for 4G LTE phones as well as so-called Internet of Things devices, TowerJazz said on Wednesday.

Mobile Experts LLC, a market research firm, forecasts the RF front-end component market to reach $10.8 billion in 2015, rising to above $16 billion in 2018.

The Japan-based joint venture, called TowerJazz Panasonic Semiconductor, is majority owned by TowerJazz. Shares in TowerJazz were up 4.5 percent in afternoon trade in Tel Aviv.

(Reporting by Tova Cohen)

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