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Monday February 1, 8:02 am Eastern Time
Company Press Release
Interdigital and Nokia Announce Multi-Year Development Project for Third Generation Technology
Estimated Value of Approximately $70 Million
KING OF PRUSSIA, Pa. and HELSINKI, Finland--(BUSINESS WIRE)-- Feb. 1, 1999--InterDigital Communications Corporation (ASE: IDC) and Nokia today announced a long-term cooperation agreement involving the development of new technology for third generation wireless telecommunications products designed for high data rate applications, such as Internet access.
Under the multi-year agreement, InterDigital will deliver technology building blocks for Nokia to use in third generation wireless products. The agreement, which includes paid up TDMA and CDMA patent licenses which generally extend through the project period, has an estimated value to InterDigital of approximately $70 million, including an initial payment of approximately $30 million. The companies have defined a framework for establishing licensing terms after the initial licensing period.
''Nokia is committed to furthering the development of third generation technologies, which will herald the era of a true Wireless Information Society. In addition to Nokia's own core development of third generation, we place great emphasis on additional R&D, including co-operation with key industry players,'' said Ahti Vaisanen, Vice President, Third Generation Technology, Nokia Mobile Phones. ''Nokia believes that its work with InterDigital over the next several years will complement its own development of third generation products,'' he said.
Harry Campagna, Chairman of InterDigital, said: ''Nokia has selected us to develop an important component of third generation wireless technology. In doing so, this global telecommunications leader recognizes our expertise in developing air interface technologies. This is an important relationship for us. The telecommunications industry is moving aggressively to address the demand for high-speed data capability and we are pleased to be participating in that technology arena. Our work with Nokia will broaden our position as a developer of leading-edge technologies and enable us to grow as third generation technologies are commercialized.
''In working for Nokia, we will use our technical expertise to design advanced technology and we will retain ownership rights over the technology we develop. This will enable InterDigital to produce and sell products utilizing the new technology, as well as license other companies under the technology,'' he said.
Nokia's in-depth know-how of wireless systems is acknowledged world-wide, and Nokia plays a central role in taking the future-proof GSM platform further into third-generation telecommunications systems with the UMTS (Universal Mobile Telecommunications System) and IMT-2000 (International Mobile Telecommunication System 2000) technology.
Nokia is the world's leading mobile phone supplier and a leading supplier of mobile and fixed telecom networks including related customer services. Nokia also supplies solutions and products for fixed and wireless datacom, as well as multimedia terminals and computer monitors. In 1998, net sales totaled FIM 79.2 billion (USD 15.7 billion, EUR 13.3 billion). Headquartered in Finland, Nokia is listed on five European Stock Exchanges and on the New York Stock Exchange (NOK.A), has sales in over 130 countries and employs more than 44,000 people worldwide.
InterDigital develops and markets wireless telecommunications systems and components using both proprietary and standards compliant technologies for voice and data communications. In the past twelve months, InterDigital has developed relationships with a leading wireless access provider, and now, the number one mobile phone supplier in the industry, Nokia.
As InterDigital begins its work for Nokia, it will also remain committed to B-CDMA(tm) technology for the wireless local loop and will continue to work in close cooperation with the B-CDMA Alliance(tm).
In conjunction with the B-CDMA Alliance (tm), which consists of Siemens AG, Samsung Electronics Co. Ltd., and Alcatel Alsthom, InterDigital is commercializing its new B-CDMA(tm) technology for use in wireless communication products. InterDigital®, Broadband Code Division Multiple Access(tm), and B-CDMA(tm) are among the trademarks of InterDigital Communications Corporation. As used herein, where the context so requires, references to InterDigital Communications Corporation includes reference to InterDigital Technology Corporation, the holder of InterDigital patents. For more information, please visit InterDigital's web site: www.interdigital.com.
This press release contains forward looking statements regarding InterDigital's current beliefs and expectations as to the estimated value of the agreement, Nokia's funding of the development project, the ability of the technology and products developed under the agreement to enhance the Company's competitive position and continued commitment to B-CDMA technology and alliances.
Such statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in any such forward looking statement due to a variety of factors including, but not limited to: failure to achieve desired development goals, budget and/or schedule, Nokia's exercise of its rights to terminate the development project for convenience, the availability of competitive products or technology superior on a perceived, relative or actual basis with the InterDigital's products or technology, failure of business partners to meet expectations and inability to retain or hire adequate personnel.
InterDigital undertakes no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
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Contact:
InterDigital Communications Corp.
Susan Sutton, 610/878-5677
e-mail: susan.sutton@interdigital.com
or
Blair Christie, 610/878-7866
e-mail: blair.christie@interdigital.com
or
Nokia Contacts:
Arja Suominen, +358 95 113 8193
e-mail: arja.suominen@ntc.nokia.com
or
Tapio Hedman, +358 10 505 5750
e-mail: tapio.hedman@nmp.nokia.com
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