Qualcomm Incorporated (NASDAQ: QCOM) today announced the signing of a multi-million dollar, royalty-bearing license agreement with SK Telecom Co., Ltd. of Seoul, Korea. Under terms of the agreement, Qualcomm granted SK Telecom a license to manufacture and sell subscriber products for wireless applications, including Personal Communications Services (PCS) and wireless local loop, based on its Code Division Multiple Access (CDMA) IS-95 standard.
"As the largest cdmaOne carrier in the world today, SK Telecom's participation as a subscriber products licensee ensures that the Korean consumers' growing demand for CDMA subscriber products continues to be satisfied while adding a knowledgeable supplier of CDMA subscriber products worldwide," said Steve Altman, senior vice president and general manager of Qualcomm's Technology Transfer Division. "With more than two million subscribers, SK Telecom has proven that consumers have embraced the inherent benefits and superiority of CDMA over other competing digital standards."
Headquartered in San Diego, Qualcomm develops, manufactures, markets, licenses and operates advanced communications systems and products based on its proprietary digital wireless technologies. The Company's primary product areas are the OmniTRACS® system (a geostationary satellite-based, mobile communications system providing two-way data and position reporting services), CDMA wireless communications systems and products and, in conjunction with others, the development of the Globalstar™ low-earth-orbit (LEO) satellite communications system. Other Company products include the Eudora Pro™ electronic mail software, ASIC products, and communications equipment and systems for government and commercial customers worldwide. For more information on Qualcomm products and technologies, please visit the Company's web site at http://www.qualcomm.com.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including timely product development, 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, 1996 and most recent Form 10-Qs.
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