Qualcomm Boosts Manufacturing in Brazil and Mexico, CEO Says
Bloomberg News
Mar 3 1999 5:57PM ET
Qualcomm Boosts Manufacturing in Brazil and Mexico, CEO Says
(For more on Bloomberg Telecom Day, TCOM )
New York, March 3 (Bloomberg) -- Qualcomm Inc., which makes cellular phones and network equipment, plans to increase the number of phones it manufactures in Brazil and Mexico, Chief Executive Irwin Jacobs said.
Currently, the San Diego-based company makes about 650,000 cellular phones a month, which isn't enough to meet the ever- widening worldwide demand, Jacobs said at Bloomberg's Fourth Annual Telecom conference in New York. ''With the growth in the phone business, we're still pretty much supply -- rather than demand --limited.''
Brazil, even with that country's recent economic problems, represents a ''significant, growing market'' for Qualcomm's products, Jacobs said. ''Demand for telephony has been unmet for many years.''
Qualcomm shares fell 5/8 to 73 1/8.
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