Market rumors suggest that Silicon Labs, recently acquired by TI, might be capturing a percentage of Nordic Semiconductor’s (NS) Dexcom account volumes: https://www.finansavisen.no/teknologi/2026/05/23/8353510/analytiker-om-kjendisaksje-kan-miste-store-inntekter-varsler-kursfall?zephr_sso_ott=eeGzlN. The article explains how Dexcom’s new G7 CGM device might utilize a multi-path chip vendor strategy, where the product is manufactured using two different chips. Dexcom represents about 10% of NS’s total customer accounts. Rumors have been circulating since 2023. Exactly how much of the Dexcom pie is at risk remains entirely speculative. Dexcom is clearly using this to pressure NS for better pricing.
On a more positive and speculative note: Oura. Media reports suggest that Oura’s 5th gen ring is just around the corner. Oura’s 3rd and 4th gen devices have used Infineon’s PSoC 6. By modern standards, this chip is quite archaic, and the nRF54L series outperforms it easily. An nRF54 paired with an NS PMIC (Power Management IC) would be a very attractive package for the ring’s form factor. If the new Oura contains something other than a PSoC chip, and if that happens to be an nRF54, it would be a big deal for NS. We’ll have to wait for press releases or X-ray images/teardowns.