SAN DIEGO -- January 5, 2001 -- Qualcomm Incorporated (Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology, today announced that it has entered into a CDMA modem card license agreement with Qualified Mobile Telecommunications (QMtel) of Seoul, Korea. Under the terms of the royalty-bearing agreement, Qualcomm has granted QMtel a license under certain Qualcomm intellectual property to develop, manufacture and sell CDMA and cdma2000 1xEV modem card products for use in wireless data communication devices.
"Qualcomm is very pleased to license its technology to QMtel to manufacture and sell CDMA modem card products," said Steve Altman, president of Qualcomm Technology Alliances. "This license will allow QMtel to expand their product offerings and help support the continued growth of CDMA technology. We look forward to working with QMtel as they establish themselves in the worldwide CDMA market."
"We are pleased to launch our new innovative CDMA-based modem for incorporation in personal digital assistants (PDAs) and other wireless portable communication devices," said Simon Yang, director of QMtel. "With this agreement, QMtel can now develop exceptional CDMA-based products for the rapidly growing wireless marketplace and be able to provide its customers with advanced wireless Internet connectivity."
Established in February 2000, QMtel is a leader in the wireless communications market and is focused on the development of CDMA products and other wireless data communications products. The Company's main business areas include the development, manufacture, sales and marketing of 3G handsets, CDMA modems cards and wireless Internet devices, and is currently developing other CDMA-based products such as PDAs, e-books, Telemeters and card readers. For more information, please visit www.qmtel.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 chipset 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 that 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.