Tuesday, June 03, 2003 7:33:09 AM
QUALCOMM Commits Up to $100 Million to Strategic Venture Investments in China - China Investment Part of $500 Million QUALCOMM Ventures Commitment -
SAN DIEGO, June 3 /PRNewswire-FirstCall/ -- QUALCOMM Incorporated (Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology, today announced a commitment to invest up to $100 million in early- to mid-stage Chinese companies engaged in the development and commercialization of CDMA-based products, applications and services.
As part of QUALCOMM's $500 million commitment announced in November 2000, QUALCOMM believes that venture investments in a variety of market segments in China will promote the continued adoption of CDMA worldwide. Chinese companies receiving investments from QUALCOMM will benefit from access to QUALCOMM's products and technologies, as well as business and strategic relationships throughout the industry."
This investment further demonstrates QUALCOMM's commitment to enabling and fostering a growing CDMA value chain for the next phase of CDMA development in China," said Jing Wang, senior vice president of QUALCOMM and chairman of QUALCOMM China. "QUALCOMM has been working to expand its presence in Greater China by simultaneously working in partnership with the Chinese government, China Unicom, CDMA manufacturers, BREW and gpsOne application developers, and other businesses."
"QUALCOMM's investments over the next several years in promising, young, Chinese entrepreneurial companies will contribute to the growth of CDMA worldwide during this key expansion phase for the Chinese CDMA industry," said Tony Thornley, president and COO of QUALCOMM. "China possesses a large pool of strong technical and marketing talent in CDMA. We expect to see a rapid increase in the number of new CDMA-related companies in China as third-generation CDMA technology is deployed worldwide."
QUALCOMM will target investments within the following sectors: CDMA-based communications technology and devices; BREW(TM) application and platform developers, including gpsOne(TM) location-based application developers and service providers; and, enabling and complementary technology providers. A dedicated China-based team from QUALCOMM will manage the fund and its investments, with active involvement from QUALCOMM senior management.
QUALCOMM will consider participating in a variety of private financing rounds, with a preference for early- to mid-stage ventures. For more information on the application process, please visit the QUALCOMM Ventures Web site, http://www.qualcomm.com/ventures/international /, and the QUALCOMM China Web site, http://china.qualcomm.com/ventures /.
QUALCOMM Incorporated ( www.qualcomm.com ) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. Headquartered in San Diego, Calif., QUALCOMM is included in the S&P 500 Index and is a 2003 FORTUNE 500(R) company traded on The Nasdaq Stock Market(R) 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 30, 2002, and most recent Form 10-Q.
QUALCOMM is a registered trademark and BREW and gpsOne are trademarks of QUALCOMM Incorporated. All other trademarks are the property of their respective owners.
For further information, please contact: Christine Trimble, Corporate Public Relations, 1-858-651-3628, fax, +1-858-651-5873, publicrelations@qualcomm.com , or Julie Cunningham, Investor Relations, +1-858-658-4224, +1-858-651-9303, jcunningham@qualcomm.com, both of QUALCOMM Incorporated.
SOURCE QUALCOMM Incorporated /CONTACT: Christine Trimble, Corporate Public Relations, 1-858-651-3628, fax, +1-858-651-5873, publicrelations@qualcomm.com , or Julie Cunningham, Investor Relations, +1-858-658-4224, +1-858-651-9303, jcunningham@qualcomm.com, both of QUALCOMM Incorporated/ /Web site: http://www.qualcomm.com/ventures/international / /Web site: http://china.qualcomm.com/ventures / /Web site: http://www.qualcomm.com / (QCOM) CO: QUALCOMM Incorporated ST: California, China IN: TLS CPR MLM NET SU: ASI FNC VEN
(END) Dow Jones Newswires
06-03-03 0731ET
Daniel Nieves
Recent IDCC News
- InterDigital Announces Date for Second Quarter 2024 Financial Results • GlobeNewswire Inc. • 07/18/2024 12:30:00 PM
- UK Court of Appeal rules in favor of InterDigital in dispute with Lenovo • GlobeNewswire Inc. • 07/12/2024 01:10:00 PM
- InterDigital Announces Convertibility of 3.50% Senior Convertible Notes Due 2027 • GlobeNewswire Inc. • 07/03/2024 08:00:00 AM
- InterDigital signs license agreement with Google • GlobeNewswire Inc. • 07/02/2024 08:00:00 AM
- Form 11-K - Annual report of employee stock purchase, savings and similar plans • Edgar (US Regulatory) • 06/20/2024 12:30:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 08:10:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 08:10:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 08:10:29 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/11/2024 09:26:41 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/11/2024 08:51:28 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/11/2024 08:42:45 PM
- InterDigital and Philips to Showcase Volumetric Streaming Technologies Empowering Immersive Sports Experiences at AWE USA 2024 • GlobeNewswire Inc. • 06/11/2024 08:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/10/2024 08:30:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/10/2024 08:09:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/10/2024 08:06:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/10/2024 08:04:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/10/2024 08:01:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:13:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:10:01 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:07:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:06:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:05:55 PM
- InterDigital Declares Regular Quarterly Cash Dividend • GlobeNewswire Inc. • 06/06/2024 08:30:00 PM
- InterDigital to Present at Upcoming Conferences • GlobeNewswire Inc. • 05/30/2024 12:30:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/06/2024 08:06:54 PM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM