SAN DIEGO -- April 27, 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 infrastructure equipment license agreement with Mitsubishi Electric Corporation. Under the terms of the multi-million dollar, royalty-bearing agreement, Qualcomm has granted Mitsubishi a license to develop, manufacture and sell infrastructure equipment for third-generation (3G) CDMA (CDMA2000 1x/1xEV, TD-SCDMA, WCDMA) applications in Japan, China and Taiwan. Mitsubishi will pay Qualcomm ongoing royalty rates irrespective of the licensed CDMA standard implemented.
"We are pleased to license our technology to Mitsubishi Electric Corporation for the development of infrastructure equipment that will support third-generation CDMA wireless services in Japan, China and Taiwan," said Steve Altman, president of Qualcomm Technology Alliances. "This agreement will enable Mitsubishi to facilitate the growth of 3G CDMA deployment and meet the demand for innovative wireless products and solutions in the Asian marketplace."
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 2001 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.