Maurice , Gregg,,&ALL
I am trying to come up with a conservative estimate of how much royalty QCOM might be expected to receive per subscriber, something I imagine you have given some thought to. As far as I can tell Royalty,License and Dev. fees have totaled approx 325 mil from Yrs 94-97. According to the 1997 annual statement, there were some 8mil subscribers worldwide at the end of the year. Unfortunately it's not possible to distinguish between licensing royalty and development fees, so one is left only with aggregates, however as an aggregate this translates into about 40$ per user. This of course conflates infrastructure and handset royalties,etc., but I don't have a better method at hand.40$ seems a might steep, but if one considers the value created for all those invloved,i.e equipment vendors , systems operators and subscribers, perhaps not.At any rate 40$ doesn't sound very conservative to me. Any thoughts?............Thanks in advance...Dave |
