SAN DIEGO -- January 17, 2001 -- Qualcomm Incorporated (Nasdaq: QCOM), the leader in mobile communications for the transportation industry, today announced it has established a group dedicated to the heavy equipment asset tracking market. Based in Bethesda, Md., this new team will provide the industry with the first comprehensive construction fleet management solution by combining feature rich web-based software and rugged mobile hardware with Qualcomm's proven service fleet products.
Qualcomm will offer heavy equipment providers and operators reliable wireless tracking and equipment monitoring, as well as integrated vehicle fleet management solutions. Benefits include inventory management, enhanced security, improved billing and the ability to offer predictive, proactive, preventive maintenance. Qualcomm plans to leverage existing products and core competencies that include global distribution channels, premier customer care, best-in-class data network operations and web-based applications.
"We are excited to create a great team of engineering talent and business development expertise to help propel our efforts in the construction equipment market," said Chris Wolfe, senior vice president and general manager, Qualcomm Wireless Business Solutions. "This team will augment and complement our current initiatives, allowing us to expedite delivery of innovative solutions to heavy equipment providers and operators worldwide."
Qualcomm adds to existing staff the expertise of nine new business development, sales and mobile hardware engineering professionals that have been developing satellite-based asset tracking products for the heavy equipment industry for several years. The newly formed Qualcomm team will be led by Tim Lewis, former vice president and general manager of Tracsat.
"We see great opportunities for the heavy equipment industry in combining the strength of this new team with Qualcomm's industry-leading mobile communications solutions," said Tim Lewis, senior director of heavy equipment asset tracking operations, Qualcomm Wireless Business Solutions. "Heavy equipment providers and operators demand reliable service and Qualcomm will be the single-source provider for all their communication needs."
Qualcomm has helped the transportation industry become more efficient since 1988 when the introduction of the OmniTRACS mobile communications system provided transportation companies with an innovative and effective way of managing logistics. Its fleet management solutions continue to set the standard by offering products and services that meet the demands of a constantly changing marketplace. With the introduction of OmniExpress™, a Code Division Multiple Access (CDMA)-based digital wireless communications and tracking system, along with trailer tracking and other industry-leading technologies, Qualcomm continues to expand into new mobile markets. With a Network Management Center that processes more than six million transactions each day and over 360,000 Qualcomm mobile systems shipped to businesses in more than 37 countries on four continents, Qualcomm continues to lead the industry in providing wireless data solutions.
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 CDMA integrated circuits 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.