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We announced the shipment of our two billionth chip. Seven new customers selected our WCDMA (UMTS) chipsets for their WCDMA phone products, bringing the total number of WCDMA customers to 32. In June 2005, BREW® publishers and developers reported that they had earned more than $350 million from the sale of wireless applications and services developed for operators’ BREW-based services. And we recently announced Verizon as MediaFLO’s first U.S. operator.

We continued to invest in emerging technologies through strategic acquisitions and research and development (R&D). We completed four acquisitions this year, expanding our talents with an exciting new display technology, new user interface company in Europe and engineering resources in India. We announced our intent to acquire Flarion Technologies, a developer of OFDM-based mobile wireless data products. Our MediaFLO™ division conducted the first live, over-the-air demonstration of FLO™ technology. And we smoothly transitioned the management of the Company to a new leadership team.

a catalyst for industry progress
Qualcomm pioneered the commercial development of Code Division Multiple Access (CDMA) wireless technology. Because of its advantages in providing unmatched voice and data capacity and advanced capabilities for wireless networks, today CDMA serves as a foundation for enabling Third Generation (3G) services worldwide. Since our founding in 1985, our main business has been to develop, design, license, manufacture and market digital wireless telecommunications products and services based on CDMA. Looking forward, we are leveraging this wireless expertise as we design systems using an increasing array of technologies, positioning the Company well to continue driving new applications for wireless.

We have become successful by aligning our business model with others in the wireless industry value chain, including equipment manufacturers, network operators, application developers and content providers. By providing a vision for what’s possible and consistently delivering on our technology and chipset road maps, we have built a reputation that our partners can depend on. In addition to the traditional wireless suppliers, our business model has enabled new companies to enter the wireless market, creating increased competition, a faster pace of innovation and a rapid decrease in device costs, to the benefit of wireless operators and consumers.

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