Qualcomm Incorporated (Nasdaq: QCOM) confirmed that it received a draft order from the Japan Fair Trade Commission (JFTC) today. We are unable to comment in detail until we have the opportunity to review a full translation. However, it appears that the draft is directed at common, industry-standard licensing terms that are in fact pro-competitive and were the subject of intense negotiations with very substantial Japanese companies. It is important to note that Qualcomm has never seen any of the evidence upon which the JFTC may be relying and has not, until today, even been aware of many of the allegations. Therefore, we have not yet had the opportunity to respond. Qualcomm has been informed that it will have the right to file a written response before a final decision is rendered, and intends to do so.
Regarding Forward Looking Statements
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 defend against the claims set forth by the JFTC, 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.
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 2009 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
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July 27, 2009
July 27, 2009Japan Fair Trade Commission Issues Draft Order to QualcommJapan Fair Trade Commission Issues Draft Order to Qualcomm