SAN DIEGO -- April 6, 2001 -- Qualcomm Incorporated (Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology and Westech Korea, Inc. (KOSDAQ: 36000), 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 Westech Korea a license under Qualcomm's CDMA technology and patents to design and market Wireless Local Loop (WLL) subscriber units and modem card products for cdmaOne™ and cdma2000 1x/1xEV systems. As part of the agreement, Qualcomm is making an equity investment in Westech Korea. The financial terms of the agreement were not disclosed.
"Qualcomm is pleased to license its CDMA technology to Westech Korea for the development of fixed wireless communications devices and CDMA modem card products," said Marvin Blecker, senior vice president of technology transfer for Qualcomm. "We look forward to working with Westech Korea as they establish themselves in the worldwide CDMA market."
"This agreement demonstrates Westech's commitment to enhancing and expanding its product offerings for wireless local loop voice and data communications solutions," said Wan Kim, vice president for Westech Korea. "Integrating CDMA into our products will allow us to succeed in meeting the growing demand for wireless local loop and Internet access applications."
Headquartered in Incheon, Korea, Westech Korea is a leading developer and manufacturer of Fixed Wireless Terminals, Digital Subscriber Line Access Multiplexor, ADSL, TFT-LCD TV/MONITOR as well as Hands Free Car Kits for various kinds of cellular phones. Westech Korea's shares are listed on the KOSDAQ Stock Market under the ticker number 36000. For more information on the Company and its products, please contact Wan Kim, vice president via phone at (201) 531-9979, or via e-mail at email@example.com for North&South America, or Mike Yoon, director of sales via phone at 011-82-32-505-8970 or via e-mail at firstname.lastname@example.org, or visit the Company's Web site at www.westech.co.kr.
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; the Binary Runtime Environment for Wireless™ (BREW™) applications platform; Eudora® e-mail software; 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 100 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 cdma2000 1x/1xEV components on a timely and profitable basis, the extent and speed to which cdma2000 1x/1xEV is deployed, the acceptance of the services offered in the marketplace, 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.