To: Maurice Winn (0 )
From: Ruffian
Monday, Nov 15 1999 7:01PM ET
Reply # of 1025
QUALCOMM and Korea Telecom Freetel to
Cooperate On High Data Rate Technology Deployment
- Advanced Wireless Internet Solution for Rapidly Growing Wireless Internet Market
Set for
Implementation in Korea -
SAN DIEGO, Nov. 15 /PRNewswire/ -- QUALCOMM Incorporated (Nasdaq:
QCOM - news), pioneer and world leader
of Code Division Multiple Access (CDMA) digital wireless technology, today
announced it has signed an agreement to invest
approximately $200 million in Korea Telecom Freetel (KT Freetel), one of the world's
fastest-growing and largest Personal
Communications Services (PCS) operators. Upon successfully completing technical and
marketing trials of High Data Rate
(HDR) technology, KT Freetel is expected to deploy HDR in its major markets. The
transaction is expected to close later this
month.
Since introducing the first IS-95B system in September of this year, KT Freetel has
seen demand for wireless voice and data
connectivity grow rapidly. KT Freetel believes that HDR provides the fastest, most
cost-efficient solution to address the
demand for wireless data services. Technical trials of HDR are expected to begin in the
middle of 2000, and the marketing
trials and commercial rollout are expected to occur during 2001.
''KT Freetel's network provides our customers with superior voice and data access
rates of up to 64 Kbps,'' said Sang-Chul
Lee, president and CEO, KT Freetel. ''When we look at our customers' future needs,
we see an increasing demand for
cost-effective wireless Internet access, and especially, the fastest wireless Internet
access possible. HDR is the technology that
allows us to deliver this service to our customers.''
''The opportunity for cellular and PCS carriers around the world to provide
cost-effective, high-speed wireless Internet access
is extraordinary,'' said Irwin M. Jacobs, chairman and CEO, QUALCOMM. ''We are
very excited that KT Freetel has taken
a leadership role to satisfy the demands of this large market in Korea, and we look
forward to working with them closely to
make the implementation of HDR technology a success.''
Initial HDR network trials will incorporate evaluations of HDR's air-link performance,
advanced feature sets, decentralized
Internet Protocol (IP)-based architecture and highly integrated access points. HDR
supports e-mail, web browsing,
e-commerce, telematics and many other applications while offering end-users
continuous, untethered access to the Internet and
next generation data services. HDR's versatility allows the technology to be embedded
in handsets, laptops and handheld
computers, and other fixed, portable and mobile devices. KTF will select equipment
manufacturers to support the initial trials
and subsequent commercial deployment. QUALCOMM is committed to working with
KTF's selected suppliers to enable
them to deliver commercial HDR products as quickly as possible.
HDR provides a spectrally efficient 2.4 Mbps peak rate in a standard 1.25 MHz
channel bandwidth. Optimized for packet
data services, HDR incorporates a flexible architecture based on standard Internet
Protocols (IP). HDR's IP-based
architecture allows flexible implementation of this wireless system in high-performance
and cost-effective ways. As a
complementary solution to voice networks utilizing operator's existing cell sites, towers,
antennas and network equipment, HDR
technology allows operators to leverage their current infrastructure investment and
cellular/Personal Communication Services
(PCS) networks. HDR can also be implemented as a stand-alone system using
off-the-shelf IP backbone equipment. HDR is
compatible with IS-95A, IS-95B and future cdma2000(TM) networks, enabling
existing cdmaOne(TM) and cdma2000
service providers to obtain higher capacities and superior performance by optimizing
voice and data spectrum separately,
serving both applications from the same network.
QUALCOMM Incorporated (www.qualcomm.com) is a leader in developing and
delivering innovative digital wireless
communications products and services based on the Company's CDMA digital
technology. The Company's major business
areas include CDMA phones; integrated CDMA chipsets and system software;
technology licensing; and satellite-based
systems including OmniTRACS® and portions of the Globalstar(TM) system.
Headquartered in San Diego, Calif.,
QUALCOMM is included in the S&P 500 Index and is a 1999 FORTUNE 500®
company traded on the Nasdaq under the
ticker symbol QCOM.
With over four million PCS subscribers in Korea, Korea Telecom Freetel Co. Ltd.
(www.n016.com) is emerging as one of the
world's fastest growing and largest PCS operators. KT Freetel's concept of Personal
Network Services (PersNet®) is being
realized, enabling high-speed wireless internet access and interactive data
communications. PersNet allows customers to take
advantage of electronic commerce, on-line stock trading, on-line banking, and travel
reservations via access to the internet
through CDMA handsets.
Except for the historical information contained herein, this news release contains
forward-looking statements that are subject to
risks and uncertainties, including the risk that the transactions contemplated by the
agreement may not close, that the technical
and marketing trials may not be successful, change in economic conditions of the various
markets the Company serves, as well
as the other risks detailed from time to time in the Company's SEC reports, including the
report on Form 10-K for the year
ended September 26, 1999, and most recent Form 10-Q.
QUALCOMM and OmniTRACS are registered trademarks of QUALCOMM
Incorporated. cdmaOne is a trademark of the
CDMA Development Group. cdma2000 is a trademark of the Telecommunications
Industry Association. Globalstar is a
trademark of Loral QUALCOMM Satellite Services, Incorporated. All other
trademarks are the property of their respective
owners.
SOURCE: QUALCOMM Incorporated |
