Interesting concept. Read the bold print:
PHILADELPHIA, Feb 20 (Reuters) - Qualcomm Inc has been in
discussions with an automaker that is planning a major
expansion into telecommunications over the next decade,
President Harvey White said on Friday.
White declined to identify the automaker in an interview,
but he described it as "one of the top four or five automotive
companies in the world."
"They have 1 percent of their business in telecom today.
They expect 10 percent of their business to be in telecom in 10
years," he said.
White described Qualcomm's discussions with the company as
focusing generally on future automotive needs for wireless
products and services.
"We're having discussions with various companies, including
an auto company, about what their plans are for the future,
because we're trying to figure out what our plans are in terms
of what kind of products and services we might be able to
provide. It's really an issue of trying to understand the
industry," the executive told Reuters.
Earlier, White said in remarks at a communications
conference hosted by the University of Pennsylvania's Wharton
School that the automaker saw telecom as its future.
PHILADELPHIA, Feb 20 (Reuters) - Qualcomm Inc has been in
discussions with an automaker that is planning a major
expansion into telecommunications over the next decade,
President Harvey White said on Friday.
White declined to identify the automaker in an interview,
but he described it as "one of the top four or five automotive
companies in the world."
"They have 1 percent of their business in telecom today.
They expect 10 percent of their business to be in telecom in 10
years," he said.
White described Qualcomm's discussions with the company as
focusing generally on future automotive needs for wireless
products and services.
"We're having discussions with various companies, including
an auto company, about what their plans are for the future,
because we're trying to figure out what our plans are in terms
of what kind of products and services we might be able to
provide. It's really an issue of trying to understand the
industry," the executive told Reuters.
Earlier, White said in remarks at a communications
conference hosted by the University of Pennsylvania's Wharton
School that the automaker saw telecom as its future.
"They see telecom replacing the automobile," he told an
audience consisting mainly of business students, academics and
company executives.
"They see, that with the virtual workplace, we'll be able
to deliver to the workplace and to the person information, and
we won't have to take the person to the place. And they think
that if they aren't on the leading edge of this change in how
people are going to live and work, that they will not have the
kind of market capitalization and ability they do."
The world's four largest automakers are General Motors Corp
(NYSE:GM), Ford Motor Co (NYSE:F), Toyota Motor Corp (TOKYO:7203),
Volkswagen AG (FSE:VOWG) and Chrysler Corp (NYSE:C). |
