Qualcomm Incorporated (NASDAQ: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, and Zoom Technologies, Inc. (NASDAQ: ZOOM) today announced that they have entered into a subscriber unit license agreement. Under the terms of the agreement, Qualcomm has granted Zoom a worldwide, royalty-bearing patent license to develop, manufacture and sell WCDMA and TD-SCDMA subscriber units. The royalties payable by Zoom are at Qualcomm’s standard worldwide rates.
“Qualcomm and Zoom Technologies both share a strong commitment to R&D and are dedicated to driving the wireless industry forward in China and around the world,” said Derek Aberle, executive vice president and president of Qualcomm Technology Licensing. “This agreement enables them to develop, manufacture and sell advanced 3G products, greatly enhancing Zoom’s competitive position in the global wireless landscape.”
“This agreement with Qualcomm is an enormous step towards our advancement in the 3G market, enabling us to produce the latest products for the dynamic Chinese market,” said Mr. Leo Gu, chairman and chief executive officer of Zoom Technologies. “Our Nollec Wireless subsidiary, long known for its world class design team in wireless communication, will now develop highly competitive 3G products, such as smartphones, running on the Android operating system, setting in motion our plan to deliver a series of professional use 3G smartphones to Asia, Europe and beyond.”
Zoom’s wholly owned subsidiary Nollec Wireless, a mobile phone and wireless communication design company, will operate under the license.
About Zoom Technologies
Zoom Technologies is a holding company with subsidiaries that engage in the manufacturing, research and development, and sale of electronic and telecommunication products for the latest generation mobile phones, wireless communication circuitry and related software products. Zoom Technologies’ subsidiary, Jiangsu Leimone, owns a majority stake of TCB Digital, which offers highly customized and high quality Electronic Manufacturing Service (EMS) for Original Equipment Manufacturer (OEM) customers as well as its Own Brand Manufacturing (OBM) under the Zoom and Leimone brand names. The company’s products are both exported and sold domestically.
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G and next-generation mobile technologies. For 25 years, Qualcomm ideas and inventions have driven the evolution of wireless communications, connecting people more closely to information, entertainment and each other. Today, Qualcomm technologies are powering the convergence of mobile communications and consumer electronics, making wireless devices and services more personal, affordable and accessible to people everywhere. For more information, visit Qualcomm around the Web:
Corporate Blog: www.qualcomm.com/blog
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 26, 2010, and most recent Form 10-Q.