SAN DIEGO -- April 9, 1999 -- Qualcomm Incorporated (Nasdaq: QCOM) has been named to the prestigious FORTUNE 500 list which highlights the largest companies in America. FORTUNE released the list this week in its April 26, 1999 issue. The rankings are based on fiscal year 1998 revenues. The ranking marks Qualcomm's first appearance on the list.
"Due to the expertise, initiative and hard work of our employees worldwide, Qualcomm joined the FORTUNE 500 ranks," said Dr. Irwin Mark Jacobs, chairman and CEO of Qualcomm. "The efforts and dedication demonstrated by our employees have contributed to the Company's growth and success in the global telecommunications market."
FORTUNE cited telecom deregulation, Code Division Multiple Access (CDMA) technology and wireless demand as reasons that propelled Qualcomm into the FORTUNE 500 list at number 440. Additionally, Qualcomm was recognized by FORTUNE as one of the companies demonstrating the biggest increase in revenues over fiscal year 1997.
Qualcomm Incorporated (Nasdaq: QCOM) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's major business areas include CDMA phones; integrated CDMA chipsets and system software; technology licensing; and satellite-based systems including OmniTRACS® and portions of the Globalstar™ system. Qualcomm is headquartered in San Diego, Calif. Qualcomm's fiscal 1998 revenues exceeded U.S. $3 billion. For more information, please visit the Company's web site at http://www.qualcomm.com.
Qualcomm and OmniTRACS are registered trademarks of Qualcomm Incorporated. Globalstar is a trademark of Loral Qualcomm Satellite Services, Incorporated.