Qualcomm Incorporated (NASDAQ: QCOM), today announced that Mayor Susan Golding, in recognition of Qualcomm's pioneering efforts in digital wireless communications and contributions to the San Diego region, has proclaimed Super Bowl week, January 19 through the 25, Qualcomm Week in San Diego—the Wireless Capital of the World.
As the developer and leader in the commercialization of Code Division Multiple Access (CDMA), the fastest-growing global digital wireless technology around the world, Qualcomm has helped spearhead San Diego's growth into a thriving entrepreneurial center—encouraging the creation of small, high-tech start-ups and attracting large high-tech companies to the region. Via an expanding local technology industry—including tremendous growth in the wireless category—the City has been transformed into a high-tech powerhouse, marked by international centers for biotechnology, communications, software and scientific research.
In the decade since 1988, when Super Bowl XXII was hosted in San Diego, the city has enjoyed dramatic economic growth, in spite of losing 25,000 jobs in the defense and aerospace industries. The tremendous expansion of the wireless segment from less than 10,000 jobs in 1988, to over 34,000 today, combined with similar growth in other industry segments, clearly marks San Diego's role as a world leader in a technology driven economy.
"As the world focuses its attention on San Diego to watch the Super Bowl, they will see a thriving city. Here, in San Diego, we're building the first great city of the 21st century," said San Diego Mayor Susan Golding. "I'm proud of what Qualcomm has contributed to the community—their amazing growth continues to mirror the City's economic success. More than any other company, they are a model corporate citizen of a new civic entrepreneurialism."
"We're honored that the Mayor and City Council have chosen this special week of Super Bowl to recognize Qualcomm and our part in making San Diego the Wireless Capital of the World," said Qualcomm's Chairman and CEO Dr.Irwin Jacobs. "As we have grown from 194 people in 1988 when Super Bowl XXII was played in San Diego to over 10,000 people today, we're delighted by the role that Qualcomm has played in San Diego's transition to a technology-based economy."
Qualcomm, founded in San Diego, purchased naming rights to Qualcomm Stadiumin San Diego in the spring of 1997 for $18 million. Qualcomm is the first company with a stadium bearing its corporate name to host a Super Bowl.
Headquartered in San Diego, Qualcomm develops, manufactures, markets, licenses and operates advanced communications systems and products based on its proprietary digital wireless technologies. Qualcomm'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 Qualcomm 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 Qualcomm'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, continued growth inthe CDMA subscriber population and the scale up and operations of CDMA systems, Qualcomm's ability to successfully manufacture significant quantities of CDMA or other equipment on a timely and profitable basis, change in economic conditions of the various markets Qualcomm serves, as well as the other risks detailed from time to time in Qualcomm's SEC reports, including the report on Form 10-K for the year ended September 28, 1997 and most recent Form 10-Qs.
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