SAN DIEGO -- April 24, 2001 -- Qualcomm Incorporated (Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology, and Bellwave, Co., Ltd., today announced that they have entered into a CDMA modem card license agreement. Under the terms of the royalty-bearing agreement, Qualcomm has granted Bellwave a worldwide license under Qualcomm's CDMA technology and patents to develop, manufacture and sell cdmaOne™ and CDMA2000 1x/1xEV modem card products for use in wireless data communication devices. Bellwave will pay Qualcomm a license fee and ongoing royalties at the same rates, irrespective of the licensed CDMA standard.
"Qualcomm is pleased to include Bellwave as a CDMA modem card licensee to design and market innovative solutions for wireless data communications," said Marvin Blecker, senior vice president of technology transfer for Qualcomm. "This license agreement will provide Bellwave the opportunity to participate in the worldwide CDMA market."
"Bellwave intends to maintain its competitive edge by offering optimal wireless Internet solutions and help fuel the growth of the worldwide CDMA market," said K.G. Yang, CEO of Bellwave, Co., Ltd. "We are committed to providing cutting-edge services to our customers and Qualcomm's CDMA technology allows us to remain at the forefront of the rapidly growing wireless industry."
Bellwave Co., Ltd., is a young venture company in Korea in the area of wireless communications, providing total solutions for mobile phones as well as data specific modules and terminal devices. Founded in September 1999, the Company is already commanding a strong presence in the market with top-notch R&D power and efficient management. Citicorp, the world's largest financial institution recognized the potential of Bellwave and recently made an equity investment in the Company. Bellwave plans to focus on R&D and compete with leading companies in the global wireless communications market.
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 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.
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