Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies and data solutions and LT Mobile Communication Co., Ltd (LT Mobile), today announced that they have entered into a CDMA subscriber unit license agreement. Under the terms of the royalty bearing agreement, Qualcomm has granted LT Mobile a worldwide patent license to develop, manufacture and sell subscriber units implementing the CDMA2000® standard. The royalties payable by LT Mobile are at Qualcomm's standard worldwide rates.
“Qualcomm is pleased to include LT Mobile, a Chinese company, as a licensee of its patent portfolio,” said Derek Aberle, executive vice president and president of Qualcomm Technology Licensing. “Licensing advanced wireless technologies promotes the success of our partners and enriches the lives of consumers globally. This agreement will enable LT Mobile to extend the benefits of high-speed, low-cost wireless products to its customers in China and worldwide.”
“This agreement with Qualcomm provides LT Mobile (and its wholly owned subsidiary Shenzhen Tinno Mobile Technology Co., Ltd.) with the opportunity to expand into the CDMA2000 market and to offer our customers a more complete portfolio of products and services,” said Tony Lin, president of LT Mobile. “We are excited about the opportunities made available through the implementation of CDMA2000 in our products and are dedicated to continue developing innovative products to accommodate our customers' needs.”
Shenzhen LT Mobile Communication Co., Ltd, founded in 2002, is a professional high-tech company specializing in manufacturing and marketing of CDMA, GSM, PHS and dual-mode mobile phones. It is one of the manufacturing companies that have obtained licenses issued by the National Development and Reform Commission of P.R.C. to produce both GSM/GPRS and CDMA handsets. There are approx. 260 engineers in its Shenzhen and Nanjing R&D centers, including Ph.D. and masters degree holders capable of conducting R&D throughout the development process, starting from mobile chipsets. LT has gotten in on the ground floor in the field of dual mode mobile phone, and has been called “No.1 dual GSM mobile phone manufacturer in the world”. X1 is the world's first dual GSM phone and has applied for dual Baseband & RF core technology inventive patent in 2007.
Qualcomm Incorporated (Nasdaq: QCOM) 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 100 Index, the S&P 500 Index and is a 2008 FORTUNE 500® company. For more information, please visit www.qualcomm.com.
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, 2008, and most recent Form 10-Q.