Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has signed a multi-million dollar, royalty-bearing license agreement with M.I. Tel Co., Ltd. of Korea. Under terms of the agreement, Qualcomm granted M.I. Tel a license to manufacture and sell subscriber products for Personal Communications Services (PCS) in Korea based on its Code Division Multiple Access (CDMA) IS-95 standard.
"M.I. Tel's success with the Appeal pager and the Appeal City phone provides Qualcomm with another quality licensee of our CDMA technology," said Steve Altman, senior vice president and general manager of Qualcomm's Technology Transfer Division. "This agreement is yet another example of Korean manufacturers' continued commitment to CDMA technology as it becomes the leading digital standard around the world."
CDMA is the digital technology of choice for digital cellular and PCS in the United States. CDMA offers better voice quality with longer talk and standby times and greater wireless access to millions of subscribers worldwide.
Headquartered in San Diego, Qualcomm develops, manufactures, markets, licenses and operates advanced communication 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 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 users worldwide. For more information, please visit http://www.qualcomm.com.
Except for historical information contained herein, this news release contains forward looking statements that are subject to risks and uncertainties, including timely product development and commercial implementation of the Company's CDMA technology, continued growth in the CDMA subscriber population and the scale up and operations of CDMA systems, timing and receipt of license fees and royalties, the Company's ability to successfully manufacture significant quantities of CDMA or other equipment on a timely and profitable basis and those related to performance guarantees, 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 29, 1996 and most recent Form 10-Qs.
# # #