Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has entered into a Code Division Multiple Access (CDMA) subscriber license agreement with Synertek of Korea. Synertek is a joint venture company of Korea's Hexxim Teletek, Inc., Telson Electronics Co., Ltd., Standard Telecom Co., Ltd. and Sewon Co., Ltd. Under the terms of the multi-million dollar, royalty-bearing agreement, the joint venture partners will manufacture, market and sell subscriber products for wireless applications, including Personal Communications Services (PCS) and wireless local loop, using Qualcomm's proprietary CDMA technology and patents.
"With their established relationships and aggressive plans to enter the cdmaOne market, we expect Synertek's joint venture partners to make significant contributions in the cdmaOne marketplace," said Steve Altman, senior vice president and general manager of Qualcomm's Technology Transfer Division. "We look forward to working with Synertek and its joint venture partners as they begin to participate in this rapidly expanding worldwide cdmaOne market."
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, 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.
# # #