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Qualcomm Named "2002 Best Financially Managed Company" by Fabless Semiconductor Association

– December 12, 2002 – SAN DIEGO -- December 12, 2002 -- Qualcomm Incorporated (Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology, was named the winner of the "2002 Best Financially Managed Company" by the Fabless Semiconductor Association for outstanding financial performance. Winners were announced at the FSA's Awards Dinner Celebration on December 5, 2002, at the Santa Clara Convention Center in Santa Clara, Calif. The award was accepted by Don Schrock, president of Qualcomm CDMA Technologies (QCT), the chipset and system software division of Qualcomm, in recognition of the division's performance.The FSA and financial analysts evaluated the performance of publicly traded fabless semiconductor companies by comparing financial indices such as return on investment, return on equity, inventory turns, revenue, net income, days sales outstanding, cash per share, cash burn, gross profit margin, operating margin and current ratio.

"Qualcomm, a leader in wireless telecommunications, has consistently led the fabless industry," said Jodi Shelton, executive director and co-founder of the FSA. "From the beginning, Qualcomm CDMA Technologies has utilized a fabless business model for production of its chipsets and has demonstrated that fabless is an extremely successful long-term business model."

The most successful fabless semiconductor companies during the past year were acknowledged with awards ranging from the most respected public and private fabless companies to the top start-ups to watch. For more information on the awards dinner, please visit http://www.fsa.org/dinner/.

About the Fabless Semiconductor Association
In 1994, industry leaders incorporated FSA (www.fsa.org) to achieve a more optimal balance between wafer demand and capacity. Its more than 300 corporate members represent fabless companies, integrated device manufacturers, foundry providers, packaging/assembly houses, electronic design automation companies, investment bankers, intellectual property providers and other companies. The organization encourages the relationship between fabless companies and suppliers, facilitates business partnerships, creates awareness of the fabless business model, disseminates relevant data, and fosters standards and policies. The FSA's vision is that by 2010 half of all integrated circuit revenue will come from fabless operations.

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. Headquartered in San Diego, Calif., Qualcomm is included in theS&P500 Index and 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 that are subject to risks and uncertainties, including the Company's ability to successfully design and have manufactured significant quantities of CDMA components on a timely and profitable basis, the extent and speed to which CDMA is deployed, 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 30, 2002, and most recent Form 10-Q.

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