- Investment to Increase Offering of High-Quality Wireless Applications -
SAN DIEGO, Aug. 9 /PRNewswire-FirstCall/ -- QUALCOMM Incorporated
(Nasdaq: QCOM), pioneer and world leader of Code Division Multiple Access
(CDMA) digital wireless technology; IDG Technology Venture (IDGVC), a US
venture fund focusing on the information technology industry in China and TOM
Online, a leading mobile Internet company in China, today announced the
successful closing of a US$3.5 million investment in Sichuan Great Wall
Software Group (Great Wall).
Based in Chengdu, Sichuan Province, Great Wall is a leading software
developer and application provider for wireless phones, with experience in
developing high-quality applications for QUALCOMM's BREW(R) solution and
QUALCOMM's gpsOne(TM) position-location technology. Great Wall's highly
innovative service portfolio includes City Online, a location based service
that offers city maps, travel assistance for points of interest and yellow
pages; Business TravelCompanion, which offers an online travel package and
hotel reservations using a mobile handset and Xin Gang Dating, a wireless
dating and community service. Great Wall's leading edge development work has
provided a compelling set of BREW applications for handset manufacturers such
as TCL and Motorola. The expansion of gpsOne technology in China by QUALCOMM
and China Unicom will increase the number of innovative services and benefits
offered to Great Wall's customers, enabling Great Wall to capture the
opportunities that result from the deployment of next generation wireless
networks.
"We are very pleased to join QUALCOMM and IDGVC in this strategic
investment and our participation in Great Wall's financing complements TOM
Online's ongoing mission to be the leading mobile Internet company in China,"
said Mr. Wang Lei Lei, executive director and chief executive officer of TOM
Online. "The investment in Great Wall will expand our product and service
offerings by utilizing BREW-based applications, which can support more
interactive and innovative content and products, enabling us to grow our
market share while further solidifying our leadership in the wireless Internet
market."
"Great Wall is poised to lead the market by leveraging the gpsOne solution
and BREW applications," said Jing Wang, senior vice president of QUALCOMM and
chairman of QUALCOMM Greater China. "Through our co-investment with TOM
Online and IDGVC, we are pleased to collaborate with the high level of
software developer talent in China, as this resource will allow Great Wall to
further enhance and increase the range of BREW-based services and applications
it offers its customers."
"We are very pleased to have TOM Online, QUALCOMM and IDGVC as our
investors and partners," said Mr. Xin Liu, chief executive officer of Great
Wall Software. "The investment by TOM Online and QUALCOMM will not only
provide us with the capital to fund our daily operation and expand our R&D
capability but also bring us an unsurpassed distribution network. The BREW
solution has proven to be a key component in bringing high quality content to
China."
QUALCOMM's BREW system provides products and services that connect the
mobile marketplace value chain, which includes application developers,
publishers, content providers, device manufacturers, operators and consumers.
Publishers and developers worldwide are generating revenue from BREW-based
applications and content, and 27 manufacturers have offered more than
145 BREW-enabled device models to consumers. BREW is successfully enabling
the commercial wireless data services of many very successful operators,
including Verizon Wireless, ALLTEL, Cellular One, Cellular South, MetroPCS,
Midwest Wireless and U.S. Cellular in the United States, China Unicom, KDDI in
Japan, KTF in South Korea, Hutch in Thailand, Telstra in Australia, VIVO in
Brazil, BellSouth Chile, BellSouth Colombia, BellSouth Ecuador, BellSouth
Guatemala, BellSouth Nicaragua, BellSouth Panama, BellSouth Peru, Telefonica
Moviles in Peru, Movicom in Argentina, Movicom in Uruguay, Telcel and Movilnet
in Venezuela, Verizon Dominican Republic, Verizon Wireless Puerto Rico,
Pelephone in Israel and Zapp Mobile in Romania.
TOM Online Inc. (Hong Kong GEM: 8282, Nasdaq: TOMO) is a leading mobile
Internet company in China providing value-added multimedia products and
services. A premier online brand in China targeting the young and trendy
demographic, the company's primary business activities include wireless
Internet services, online advertising. The company offers an array of
services such as SMS, MMS, WAP, wireless interactive voice response services,
content channels, search and classified information, free and fee-based
advanced email and online games. As of June 30, 2003, TOM Online is the only
portal in China that enjoyed a top three ranking in every wireless Internet
service segment.
TOM Online is a subsidiary of TOM Group Limited ("TOM Group"), one of the
leading Chinese language media groups in the Greater China region. TOM
Group's diverse operations span five media sectors: the Internet (through TOM
Online Inc.), outdoor (through TOM Outdoor Media Group), publishing, sports
and TV & entertainment.
IDGVC has the distinction of being one of the first American venture
capital funds to enter into the Chinese market. In addition to providing
venture capital, IDGVC offers an array of value-added services and in-depth
support to entrepreneurs in China's high-tech industries.
Founded in 1992 by International Data Group (IDG), a leading worldwide
provider of information technology services, IDGVC has been focusing its
investment on such industries as the Internet, information services, software,
telecommunications, networking technology and biotechnology.
To date, IDGVC has invested more than $100 million in China's burgeoning
entrepreneurial community. One of IDGVC's greatest strengths is its close
relationship with local entrepreneurs. It has a proven track record of
finding and working with individuals capable of building world-class
technology companies. IDGVC's venture capital operation is headquartered in
Beijing, with branch offices in Shanghai, Guangzhou, and Shenzhen in China and
in Boston and San Jose in the United States.
QUALCOMM Incorporated (http://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. Headquartered in San Diego,
Calif., QUALCOMM is included in the S&P 500 Index and is a 2003 FORTUNE 500(R)
company traded on The NASDAQ Stock Market(R) under the ticker symbol QCOM.
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 design, develop
the product discussed, the extent and speed to which such products are
accepted in the market, 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 28, 2003, and most recent Form 10-Q.
QUALCOMM and BREW are registered trademarks of QUALCOMM Incorporated.
gpsOne is a trademark of QUALCOMM Incorporated. CDMA2000 is a registered
trademark of the Telecommunications Industry Association (TIA USA). All other
trademarks are the property of their respective owners.
For further information, please contact Emily Gin, Corporate Public
Relations, +1-858-651-4084, publicrelations@qualcomm.com, or Bill Davidson,
Investor Relations, +1-858-658-1818, williamd@qualcomm.com, both of QUALCOMM.
SOURCE QUALCOMM Incorporated
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Related links:
http://www.qualcomm.com
CONTACT:
Emily Gin, Corporate Public Relations,
+1-858-651-4084, publicrelations@qualcomm.com, or Bill Davidson,
Investor Relations, +1-858-658-1818, williamd@qualcomm.com, both
of QUALCOMM
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