Qualcomm Commits to $25 Million Strategic Investment in PT Mobile-8 TelecomSAN DIEGO
Qualcomm Incorporated (Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology, congratulates PT Mobile-8 Telecom (Mobile-8) on the commercial launch of its CDMA2000® 1X network in Indonesia. The third-generation (3G) high-speed network will be available to customers beginning today, Dec. 8, 2003. Mobile-8 will also commercially deploy CDMA2000 1xEV-DO technology and the BREW™ system in Jakarta in the first quarter of 2004 to deliver mobile data services at multi-megabit peak rates.
Additionally, Qualcomm has committed to making a strategic investment of $25 million in Mobile-8 for a minority stake in the company upon Mobile-8 meeting terms and conditions of the investment agreement. The strategic investment will support Mobile-8's continued development of its CDMA2000 1X and 1xEV-DO networks in Indonesia.
"Mobile-8's deployment of its CDMA2000 1X network and its upcoming pilot of 1xEV-DO services represents a major step forward in Indonesian telecommunications, and places the company in a highly strategic position within the telecommunications industry in Indonesia," said Marshall Towe, vice president and managing director of Southeast Asia for Qualcomm. "We are pleased to work closely with Mobile-8 to help the company achieve its vision of making 3G services a reality for Indonesians across the nation."
Mobile-8's network launch represents the first full mobility commercial CDMA2000 1X deployment in Indonesia. The new high-speed wireless data network will enable consumers to access a wide range of exciting new services and applications. In addition to basic voice services, Mobile-8 expects to be able to offer its customers wireless data services based on Qualcomm's BREW system by the first quarter of 2004. The BREW solution enables wireless subscribers to download useful and entertaining applications and content such as games, ring tones, location-based services and business applications wirelessly to their mobile phones.
"Qualcomm's commitment to invest in Mobile-8 is a reflection of our active involvement in, and commitment to, the uptake of 3G technology in Indonesia, which will give Indonesian consumers access to the best possible services and applications, while generating substantial economic and social benefits for the whole country," Mr. Towe added.
Qualcomm will also be working with other investors in Mobile-8, including operations consultant, KTF, a leading South Korean wireless operator, in furthering the development of Mobile-8's 3G networks.
Mobile-8 joins 66 other commercial 3G operators in 34 countries worldwide. The extensive range of products and services enabled by CDMA2000 1X and 1xEV-DO has led to dynamic increases in subscription uptakes around the world, with over 70 million 3G CDMA reported subscribers, as of November 28, 2003.
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. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 500 Index and is a 2003 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 28, 2003, and most recent Form 10-Q.
Qualcomm is a registered trademark of Qualcomm Incorporated. BREW is a trademark of Qualcomm Incorporated. CDMA2000 is a registered trademark of the Telecommunications Industry Association (TIA USA). All other trademarks are the property of their respective owners.
December 08, 2003December 08, 2003