Qualcomm Inc (QCOM)

[JeffreyHF]

Re: LTE

Qualcomm has already signed 2 of the 5 Tier1 handset sellers to a royalty bearing LTE license, and has at least 8 LTE licenses thus far. According to management, no company has been a greater contributor of IPR to the LTE Standard than Qualcomm. Between the pioneering mobile OFDMA work patented and commercialized by Flarion, the company's in-house work, and the MIMO patents and technologies invented by Airgo, there is no reasonable doubt that Qualcomm will get paid for LTE infrastructure and devices, universally. Most of those licenses have yet to be finalized, as no commercial LTE yet exists, but the pattern has been set early.