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nPhase Selected as Name for Qualcomm and Verizon Wireless Joint Venture to Provide Advanced M2M Solutions

Board of Directors Announced

– August 20, 2009 – The new joint venture between Verizon Wireless and Qualcomm Incorporated (Nasdaq: QCOM), announced at the Smart Services Leadership Summit on July 28, 2009, was named today - nPhase - and formally became an operational company. The joint venture draws the nPhase name from the original Chicago-based machine-to-machine (M2M) pioneer launched in 2003 as a start-up focused on providing customized M2M communications solutions to meet the unique needs of OEM clients.

The new nPhase will be led by original founder and CEO Steve Pazol, who will serve as the company president. Pazol most recently served as the vice president and general manager of the acquired nPhase group, which was renamed Qualcomm Global Smart Services.

“When we originally selected the name nPhase back in 2002, we knew this industry would be constantly changing and evolving, and we felt the name nPhase communicated this concept,” said Steve Pazol president of nPhase. “We have been very fortunate to have been a part of Qualcomm for the last three years. Now with a 50/50 joint venture between Verizon Wireless and Qualcomm, we look forward to providing M2M wireless communication and smart service offerings to this rapidly growing market.”

nPhase's management team includes a combination of original nPhase founding executives, former Qualcomm executives, and a Verizon Wireless executive. The company's Board of Directors includes:

  • Steve Pazol, president, nPhase
  • Len Lauer, chief operating officer, Qualcomm
  • Jack Plating, chief operating officer, Verizon Wireless
  • Andrew Gilbert, executive vice president and president, QIS and Europe, Qualcomm
  • Anthony Lewis, vice president, Open Development, Verizon Wireless

For more information, go to www.nphase.com. Check back frequently as this exciting new business will be undergoing rapid change and development in the weeks and months to come.

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About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving more than 87.7 million customers. Headquartered in Basking Ridge, N.J., with more than 87,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). For more information, visit www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.

About Qualcomm

Qualcomm Incorporated (Nasdaq: QCOM) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 100 Index, the S&P 500 Index and is a 2009 FORTUNE 500® company. For more information, please visit www.qualcomm.com.

About nPhase

nPhase, a 50/50 joint venture between Qualcomm and Verizon Wireless, provides advanced M2M wireless communications and smart services offerings across a wide variety of market segments, including healthcare, manufacturing, utilities, distribution, and consumer products. This new company leverages the global leadership in advanced connectivity technologies provided by Qualcomm and the world's largest and most reliable 3G network provided by Verizon Wireless to deliver the most reliable end-to-end M2M solutions with the best coverage globally. nPhase headquarters are located at 5355 Mira Sorrento Place, Suite 100, San Diego, CA, 92121. For more information visit www.nphase.com.

Qualcomm is a registered trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.

Regarding Forward Looking Statements

This news release contains forward-looking statements that are subject to risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the anticipated results could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including: the expected benefits of the joint venture and the technologies, products and services to be developed and offered by the joint venture; the expected growth of the smart services market; the anticipated plans, strategies and objectives of the joint venture; plans and anticipated capabilities regarding product and service integration; and any other statements of expectation or belief. The risks and uncertainties that may affect these forward-looking statements include: the possibility that expected benefits of the joint venture and service and product integration may not materialize as expected; product development and service integration risks; competitive responses by other industry participants; the effect of changing technologies; and other risks that are described more fully in Qualcomm's SEC reports, including the report on Form 10-K for the year ended September 28, 2008, and most recent Form 10-Q.

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