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FOR IMMEDIATE RELEASE |
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Qualcomm Contacts: Tina Asmar, Corporate Communications Phone: 1-858-845-5959 Email: corpcomm@qualcomm.com
Warren Kneeshaw, Investor Relations Phone: 1-858-658-4813 Email: ir@qualcomm.com
Monalisa Sahoo, Qualcomm India Phone: 91-9323-197-828 Email: msahoo@qualcomm.com
Global Holding Corporation Contacts: Vikas Arora Phone: 91-9820329847 Email: vikasa@gtllimited.com
Ramakrishna Bellam Phone: 91-9819063292 Email: ramakrishnab@gtllimited.com
Tulip Telecom Contact: Gaurava Yadav Phone: 91-9999755254 Email: gauravy@tulip.net |
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Qualcomm Announces Collaboration with Global Holding Corporation and Tulip Telecom in new India LTE Venture
— Venture to Facilitate Accelerated Deployment of LTE in India, Complementing 3G HSPA and EV-DO Networks — |
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NEW DELHI AND SAN DIEGO — July 30, 2010 — Qualcomm Incorporated (NASDAQ:
QCOM), the winner of Broadband Wireless Access (BWA) spectrum in four telecom circles in
India, today announced Global Holding Corporation Pvt. Ltd. and Tulip Telecom Ltd. as initial
shareholders for its India LTE venture. Subject to receipt of government approvals, Qualcomm
will have a 74 percent stake in the venture, while Global Holding Corporation and Tulip
Telecom will hold 13 percent each, as required by applicable Indian Foreign Direct Investment
regulations. |
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Qualcomm will have the benefit of the proven expertise of its initial shareholders to enable best-
in-class mobile broadband for India. Global Holding Corporation is the holding company of the
Global Group, which is a market leader in providing network services to India's mobile
operators and owns India's largest independent and neutral telecom tower infrastructure. Tulip
Telecom is India's largest enterprise data connectivity service provider and has significant
experience in creating and managing large networks across industry verticals, such as telecom,
banking, financial services and insurance (BFSI), retail, education, health care and government.
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"Our objective was to secure initial shareholders who are operator-neutral, yet bring strong
telecom and broadband experience, and we are extremely pleased we met that objective with
Global Holding Corporation and Tulip Telecom," said Kanwalinder Singh, president of
Qualcomm India and South Asia and senior vice president of Qualcomm. "With our initial
shareholders, and operators we intend to induct into the venture in the future, Qualcomm will
facilitate accelerated deployment of LTE in concert with 3G HSPA and EV-DO networks, which
protects and enhances the significant investment made by Indian operators in securing 3G and
BWA spectrum."
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"We are delighted to collaborate with Qualcomm, a world leader in wireless technologies, to
enhance the broadband penetration in India by making mobile broadband a mainstream
phenomenon," said Manoj Tirodkar, founder of the Global Group. "Global Group brings
extensive experience and strategic advantage in the network services and telecom tower
infrastructure space." |
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"Tulip is extremely pleased to collaborate with a global technology leader like Qualcomm in this
venture," said Lt. Col. (Retd.) H.S. Bedi, chairman and managing director of Tulip Telecom
Limited. "As one of the largest enterprise data service providers in the country, Tulip Telecom
considers this as an opportunity to play a significant role in addressing the demand for high-
bandwidth mobile broadband services in some of the highest density telecom circles in India."
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In the recently concluded BWA auction, Qualcomm won one slot of 20 MHz TDD spectrum in
the 2.3 GHz band covering the key telecom circles of Delhi, Mumbai, Haryana and Kerala.
Qualcomm's objective is to facilitate the deployment of LTE, which is best suited to address the
demand for high bandwidth mobile broadband services in the 2.3 GHz band, and seamlessly
interworks with current and upcoming 3G HSPA and EV-DO networks. Qualcomm will
continue to play a central role in fostering the LTE ecosystem with a focus on enabling the
creation of 3G/LTE multimode devices and services best suited for India.
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Qualcomm had previously stated its plan to secure initial Indian shareholders in compliance with
applicable Indian Foreign Direct Investment regulations. Having done so, in addition to securing
government approvals, the venture will work towards demonstration and commercialization of
LTE. Qualcomm expects to attract one or more experienced 3G HSPA and/or EV-DO
operator(s) into the venture for construction of an LTE network in compliance with the Indian
government's roll-out requirements for the BWA spectrum and then to exit the venture. Barclays
Capital is acting as exclusive financial advisor to Qualcomm on India LTE venture partner
selection process. |
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About Global Holding Corporation
GlobalHoldingCorporationPvt.Ltd. is the holding company of "Global Group" thathas 7 operating companies.GlobalGroupisIndia's leading business group focusedon Network Servicesand SharedTelecom Infrastructure.GlobalGroupis expectedtohave revenues in excessofUS$ 1.5Billion, Balance sheet sizeofover US$ 5Billion, own 32,500 Telecom Towers, and more than 35,000 professionals (FY 2011E). The Group has Operationsacross 46 countries, employspeopleof 22 nationalitiesand supports 18 social causes.Global Group Enterprises have received more than 35 accolades and awardsfor excellence in Business, CSR and Corporate Governance. For more information, visit: www.globalgroupenterprise.com
About Tulip Telecom
Tulip Telecom Ltd. (BSE: 532691/NSE: TULIP) is India's leading enterprise communications
service provider. The Company's data network has the largest reach of over 1,700 locations in
India. The Company has a national presence with over 2,800 employees and more than 1,600
customers across India. Tulip designs, implements and manages communication networks of
large enterprises on long-term contracts to include enterprise communications connectivity,
network integration, managed and value added services.
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About Qualcomm Incorporated
Qualcomm Incorporated (NASDAQ: QCOM) is the world leader in next-generation mobile
technologies. For 25 years, Qualcomm ideas and inventions have driven the evolution of
wireless communications, connecting people more closely to information, entertainment and
each other. Today, Qualcomm technologies are powering the convergence of mobile
communications and consumer electronics, making wireless devices and services more personal, |
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affordable and accessible to people everywhere. For more information, visit Qualcomm around the Web:
Corporate Blog: http://www.qualcomm.com/blog Twitter: www.twitter.com/qualcomm Facebook: www.facebook.com/Qualcomm |
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Except for the historical information contained herein, this news release contains forward-
looking statements that are subject to risks and uncertainties, including the Company's ability to
successfully accelerate India's mobile broadband growth through the deployment of LTE in
India, the speed by which and the extent the LTE ecosystem develops, the Company's ability to
successfully design and have manufactured significant quantities of 3G/LTE multi-mode chipsets
on a timely and profitable basis, the Company's ability to obtain approval under the applicable
Indian Foreign Direct Investment regulations and successfully complete the engagement of its
Indian partners, the venture's ability to timely and successfully develop, finance, and execute its
strategy, the venture's ability to timely satisfy the Indian Government's rollout requirements, the
Company's ability to exit the venture on a timely basis on satisfactory terms and conditions, and
changes in economic and competitive 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 27, 2009, and most recent Form 10-Q. The
Company undertakes no obligation to update, or continue to provide information with respect to,
any forward-looking statement or risk factor, whether as a result of new information, future
events or otherwise. |
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Qualcomm is a registered trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners. |