Qualcomm Invests in CDMA Start-ups

Qualcomm has announced a commitment to invest up to US$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."

Posted to the site on 4th June 2003