Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has signed a multi-million dollar, royalty bearing license agreement with Pantech Co. of Seoul, Korea. Under terms of the agreement, Qualcomm granted Pantech 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.
"Pantech's success as a premier manufacturer of high-speed pagers 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 demonstrates that Korean manufacturers are firmly committed to the path of CDMA as it becomes the leading standard in the world."
CDMA is the digital technology of choice for digital cellular and PCS in the U.S. CDMA offers better voice quality with longer talk and standby times and greater wireless access to millions of subscribers.
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, please visit 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 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.
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