Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 173.20

-2.0%

3:22 PM EST

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To: Jon Koplik who wrote (13761)	8/14/1998 4:57:00 PM
From: Gregg Powers	Read Replies (1) of 152472

Jon: You don't understand. Qualcomm's Korean "revenue" is vastly greater than its Korean royalties. The Korean royalties are equal to some percentage, call it three to five percent, of the value of equipment sold by Korean concerns. Qualcomm also sells ASICs into Korea, and has probably generated something north of $700mm in revenue from these ASICs. So, if you take Cabi's words literally, he is saying that Qualcomm owes ETRI 20% of its revenue (royalties + ASIC sales) or 20% of $780mm (i.e. $156mm). Whereas a literate monkey would conclude that the maximum back liability--per the Herald story--would be between $7mm and $8mm (if QC was totally in the wrong). Taken in this context, Cabi's misrepresentation was enormous. Best regards, Gregg

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