Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of Code Division Multiple Access (CDMA) and other advanced wireless technologies, reported that the Korean offices of Qualcomm Korea, Samsung Electronics, LGE Electronics and Pantech Curitel were visited on April 4 by officials of the Korean Fair Trade Commission (KFTC) seeking information about the business dealings between Qualcomm and the three other companies. The KFTC advised that the inquiry was not an official investigation but declined to provide an explanation of the reason for the inquiry or its focus. However, it is believed that the inquiry may be related to communications to the KFTC from a small Korean company with respect to Qualcomm's distribution of mobile video software solutions that can be used in connection with Qualcomm's chipsets for wireless phones. The KFTC has not said that the inquiry is related in any way to complaints lodged with the European Commission last year by six companies based outside of Korea.
“Qualcomm's business practices are lawful and pro-competitive,” said Steve Altman, president of Qualcomm. “We have earned our commercial success through innovation, technological leadership, years of hard work and sustained R&D investment, and by consistently offering the best, most advanced chipsets and software at competitive prices.”
Qualcomm Incorporated (www.qualcomm.com ) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 500 Index and is a 2005 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
April 05, 2006April 05, 2006