Qualcomm Incorporated (Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology, today announced an expansion of Westech Korea, Inc.'s (KOSDAQ: 36000) existing worldwide CDMA Wireless Local Loop (WLL) subscriber unit and modem card license agreement. Under the terms of the multi-million dollar, royalty-bearing agreement, Qualcomm has granted Westech Korea a license that expands its existing licenses under Qualcomm's CDMA technology and patents to also include a license to design, develop and sell mobile subscriber units and knockdown kits for cdmaOne™ and CDMA2000 1X/1xEV-DO systems. As part of the agreement, Qualcomm is taking an equity investment in Westech Korea in lieu of cash up-front fee payments. The financial terms of the agreement were not disclosed.
"Qualcomm is pleased to expand Westech Korea's license to include mobile subscriber units and knockdown kits," said Marvin Blecker, senior vice president and general manager of technology licensing for Qualcomm. "Westech Korea will now have the opportunity to offer fully capable high-speed voice and data wireless products for the rapidly growing CDMA2000 1X mobile market and to supply knockdown kits consisting of all of the parts necessary to build a complete handset, to emerging markets throughout the world."
"This license agreement demonstrates Westech Korea's ongoing commitment to enhancing its product offerings, and will help build on our expertise in providing innovative and advanced 3G CDMA wireless products," said Wan Kim, vice president for Westech Korea. "We are now well positioned to provide solutions for both fixed and mobile wireless communications."
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 Gregory Kim, director of sales via phone at 011-82-2-2165-4710, or via e-mail at email@example.com, or you may 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 chipsets and system software; technology licensing; the Binary Runtime Environment for Wireless™ (BREW™) applications platform; QChat™ push-to-talk technology; 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 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 30, 2001, and most recent Form 10-Q.