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Can Arm7 TDMI lpc2148 be used for real time applications like vehicle tracker.
Yes, but I would not recommend this old part. The are new parts (based on Cortex-M) which are more suitable.
Take a look here http://www.keil.com/dd2/.
For example the NXP LPC1500 or NXP LPC1700 series contains devices that include USB.