SAN DIEGO -- November 27, 2000 -- Qualcomm Incorporated (Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology and Axesstel Incorporated, a leading global developer of wireless local loop (WLL) handsets and modem card products for the global communications market, today announced that they have entered into a CDMA worldwide license agreement. Under the terms of the multi-million dollar, royalty bearing agreement, Qualcomm has granted Axesstel a license under Qualcomm's CDMA technology and patents to design and market WLL subscriber units and modem card products for cdmaOne™, cdma2000 and 1xEV systems. As part of the agreement, Qualcomm has made an equity investment in Axesstel. The financial terms of the equity agreement have not been disclosed.
"Qualcomm is pleased to license its CDMA technology to Axesstel for the development of wireless local loop handsets and WAP-enabled modem card devices," said Marvin Blecker, senior vice president of technology transfer for Qualcomm. "We look forward to working with Axesstel as they begin to participate in the rapidly growing, worldwide CDMA market."
"This agreement demonstrates Axesstel's commitment to developing and enhancing its products for wireless communications in a fixed environment," said Mike Kwon, president and CEO for Axesstel. "With extensive insight into the growing telecommunications industry, Axesstel is enriching the lives of wireless users by providing products that enable access to high-speed data services. By integrating CDMA into our product, we believe that we will succeed in meeting the growing demand for wireless access."
Headquartered in San Diego, Calif., Axesstel is a leading global developer of wireless local loop handsets and modem card products for the global communications market. The Company's groundbreaking products offer wireless users in a fixed environment, the ability to access next- generation high-speed data and information services. Axesstel is a privately held Company with operations in Seoul, Korea. For more information on the company and its products, please contact Benjamin Lee, director of corporate communications for Axesstel by phone at 1-858-625-2100, via email at email@example.com or visit the company's Web site at www.axesstel.com.
Qualcomm Incorporated (www.qualcomm.com) 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 business areas include integrated CDMA chipsets and system software; technology licensing; Eudora® email software for Windows® and Macintosh® computing platforms; digital cinema systems; and satellite-based systems including portions of the Globalstar™ system and wireless fleet management systems, OmniTRACS® and OmniExpress™. Qualcomm owns patents which are essential to all of the CDMA wireless telecommunications standards that have been adopted or proposed for adoption by standards-setting bodies worldwide. Qualcomm has licensed its essential CDMA patent portfolio to more than 90 telecommunications equipment manufacturers worldwide. Headquartered in San Diego, Calif., Qualcomm is included in theS&P500 Index and is a 2000 FORTUNE 500® company traded on The Nasdaq Stock Market®under the ticker symbol QCOM.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including the Company's ability to successfully design and have manufactured significant quantities of CDMA components on a timely and profitable basis, the extent and speed to which CDMA is deployed, 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 24, 2000, and most recent Form 10-Q.