Nevertheless Severe Impact to Public Interest and Public Safety Continues to ExistSAN DIEGO
Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of Code Division Multiple Access (CDMA) and other advanced wireless technologies, today stated that a license agreement announced between Verizon Wireless and Broadcom is a positive development. The agreement, which purports to grant licenses to Verizon Wireless under the six patents asserted by Broadcom against Qualcomm in the ITC action as well as in federal district court cases in Santa Ana, California, removes uncertainty for Verizon Wireless and its customers by ensuring that Verizon Wireless will be able to continue to sell wireless broadband products powered by Qualcomm's chipsets and software. In addition, the announced economic terms are far less drastic than any terms previously demanded by Broadcom from Qualcomm.
Although the announced deal would appear to reduce the risk of disruption of Verizon Wireless' network, it does not resolve the problems arising from the ITC's order for the many other wireless carriers affected by the ITC's order, their tens of millions of subscribers, their suppliers, and the public safety and other vital organizations that depend upon their networks and services. Given the continuing negative impact to the public interest and public safety posed by the ITC's order, Qualcomm is continuing to work with its partners on seeking Presidential disapproval of the ITC's ban.
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 2007 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, 2006, and most recent Form 10-Q.
July 19, 2007July 19, 2007