SAN DIEGO -- June 28, 2001 -- Qualcomm Incorporated (Nasdaq: QCOM), the leader in mobile communications for the transportation industry, today announced that Terex Corporation (NYSE: TEX), a global leader in earthmoving and lifting equipment, will participate in Qualcomm's heavy equipment consortium as a Founders Circle member.
Qualcomm's heavy equipment mobile communications products and services will enable heavy equipment manufacturers like Terex to further improve customer service, maintenance and warranty programs while strengthening their global data networks. Qualcomm's consortium allows industry-leading manufacturers, as well as large and diverse equipment fleets, to support Qualcomm in developing standardized mobile communications solutions for the heavy equipment industry. With a standard solution, the industry can avoid the introduction of incompatible hardware and networks that make fleet management very difficult, costly and time-consuming to implement.
"We are pleased that Terex has joined Komatsu America and United Rentals in our consortium," said Tim Lewis, senior director for Qualcomm Wireless Business Solutions. "The industry's leading earthmoving and lifting equipment manufacturers, as well as the industry's leading equipment fleets, are joining Qualcomm's consortium to help drive a communications standard and they are looking for a wireless partner like Qualcomm to deliver it."
Qualcomm established its heavy equipment consortium to include industry-leading manufacturers and to create standardized mobile communications solutions for the heavy equipment industry. Qualcomm will develop satellite, terrestrial and multi-mode wireless communications solutions based on a common, modular, ruggedized hardware platform. These wireless solutions are connected to Qualcomm's network management center, the largest and most reliable in the industry. Equipment manufacturers and heavy equipment fleets are invited to join in the Qualcomm consortium to provide input on standardized mobile communications solutions for the industry. The consortium is open for enrollment at the Founders Circle, Member and Advisory Council member levels.
Qualcomm is currently in discussions with a number of other leading construction equipment manufacturers and end-user fleets regarding participation in Qualcomm's wireless heavy equipment consortium.
Terex Corporation is a diversified global manufacturer based in Westport, Connecticut, with 2000 revenues in excess of $2 billion. Terex is involved in a broad range of construction, infrastructure, recycling and mining-related capital equipment under the brand names of Terex, Unit Rig, Payhauler, O&K, Fermec, Benford, Powerscreen, Finlay, B.L. Pegson, Simplicity, Cedarapids, Grayhound, Jacques, Canica-Jaques, Lorain, PPM, P&H, Franna, Marklift, Koehring, Bendini, RO, Telelect, Square Shooter, American, Italmacchine, Peiner, Comedil, Matbro, Amida, Bartell, Coleman, Muller and Morrison. More information on Terex can be found at www.terex.com.
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 380,000 Qualcomm mobile systems shipped to businesses in more than 32 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; 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.