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Qualcomm Announces Price Reduction of OmniTRACS System

– October 29, 2001 – SAN DIEGO -- October 29, 2001 -- Qualcomm Incorporated (Nasdaq: QCOM), the leader in mobile communications for the transportation industry, today announced that it will drop the price of its OmniTRACS® satellite mobile communications system equipment to $1,990 per unit starting October 29, 2001. This offer, based on new orders only, will remain in effect for units purchased and delivered through September 27, 2002.

"Qualcomm understands that trucking companies are facing serious security and economic challenges today," said Chris Wolfe, president of Qualcomm Wireless Business Solutions. "Qualcomm is lowering the price of the OmniTRACS system to help these companies efficiently automate their fleets, exponentially raising the level of security provided to drivers, loads and vehicles, in addition to lowering operational costs and increasing productivity."

The OmniTRACS system provides two-way data messaging, automatic satellite vehicle tracking, and complete integration capabilities to dispatch and back-office systems. The price reduction in the OmniTRACS system precludes use of any other promotions or discounts and applies to a standard OmniTRACS system configuration with standard display unit.

Qualcomm has helped the transportation industry become more efficient since 1988 when the introduction of the OmniTRACS mobile communications system provided transportation companies with an innovative and effective way of managing logistics. Its fleet management solutions continue to set the standard by offering products and services that meet the demands of a constantly changing marketplace. With the introduction of OmniExpress®, a Code Division Multiple Access (CDMA)-based digital wireless communications and tracking system, along with trailer tracking and other industry-leading technologies, Qualcomm continues to expand into new mobile markets. With a Network Management Center that processes more than seven million transactions each day and over 400,000 Qualcomm mobile systems shipped to businesses in more than 32 countries on four continents, Qualcomm continues to lead the industry in providing wireless data solutions.

Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's business areas include CDMA chipsets and system software; technology licensing; the Binary Runtime Environment for Wireless™ (BREW™) applications platform; Eudora® e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar™ system and wireless fleet management systems, OmniTRACS and OmniExpress. Qualcomm owns patents that are essential to all of the CDMA wireless telecommunications standards that have been adopted or proposed for adoption by standards-setting bodies worldwide. Qualcomm has licensed its essential CDMA patent portfolio to more than 100 telecommunications equipment manufacturers worldwide. Headquartered in San Diego, Calif., Qualcomm is included in theS&P500 Index and is a 2001 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.

Except for the historical information contained herein, this news release contains forward-looking statements (including without limitation express and/or implied statements regarding the effect of such price decreases) that are subject to risks and uncertainties, including customer reaction to the price decrease, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 24, 2000, and most recent Form 10-Q.

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