--Companies Plan to Work Together to Drive Leading Technologies Across Mobile Devices--SAN DIEGO, Jan. 31, 2018 — (PRNewswire) — Qualcomm Incorporated (NASDAQ: QCOM) today announced that its subsidiary, Qualcomm Technologies, Inc. (Qualcomm Technologies), and Samsung Electronics Co. Ltd. have announced a multi-year strategic relationship agreement between the two companies in various technology areas and across a range of mobile devices. This deal expands the companies' longstanding relationship as technology and business partners this year and beyond, through the transition to 5G.
"The announcement today underscores the importance of our longstanding strategic relationship with Samsung in driving core mobile technology into many different segments," said Cristiano Amon, president, Qualcomm Incorporated. "As Qualcomm continues to lead the world to 5G, the opportunities between our companies are growing and this agreement sets us both on a path for continued success."
"We value our strategic relationship with Qualcomm Technologies," said TM Roh, executive vice president and the head of mobile R&D, Samsung Electronics. "And look forward to working together to deliver leading technologies in the years ahead."
Qualcomm invents breakthrough technologies that transform how the world connects and communicates. When we connected the phone to the Internet, the mobile revolution was born. Today, our inventions are the foundation for life-changing products, experiences, and industries. As we lead the world to 5G, we envision this next big change in cellular technology spurring a new era of intelligent, connected devices and enabling new opportunities in connected cars, remote delivery of health care services, and the IoT — including smart cities, smart homes, and wearables. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, all of our engineering, research and development functions, and all of our products and services businesses, including, the QCT semiconductor business. For more information, visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
In addition to the historical information contained herein, this press release contains forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that are inherently subject to risks and uncertainties, including but not limited to statements regarding Qualcomm Technologies' and Samsung's plans to work together in the future; the strategic relationship agreement between the companies; expanding the companies' relationship in the years ahead; and setting the companies on a path for continued success;. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should," "will" and similar expressions are intended to identify such forward-looking statements. These statements are based on our current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those expressed or implied by the forward-looking statements herein due to a number of important factors, including but not limited to future Samsung purchase, product, technology, business and strategic decisions; changes in economic, business, competitive, technological, strategic and/or regulatory factors, and other factors affecting our operations; as well as risks associated with Broadcom's disruptive takeover proposal; our proposed acquisition of NXP; commercial network deployments, expansions and upgrades of CDMA, OFDMA and other communications technologies, our customers' and licensees' sales of products and services based on these technologies, and our customers' demand for our products and services; competition in an environment of rapid technological change; our dependence on a small number of customers and licensees; our dependence on the premium-tier device segment; attacks on our licensing business model, including current and future legal proceedings and governmental investigations and proceedings, or actions of quasi-governmental bodies or standards or industry organizations; potential requirements to change our patent licensing practices due to governmental investigations and/or private legal proceedings challenging those practices; the enforcement and protection of our intellectual property rights; our ability to extend our technologies, products and services into new and expanded product areas and adjacent industry segments; risks associated with operation and control of manufacturing facilities acquired through the formation of our joint venture, RF360 Holdings; the continued and future success of our licensing programs, including for 4G single mode products and emerging industry segments, and the need to extend license agreements that are expiring; our dependence on a limited number of third-party suppliers; claims by third parties that we infringe their intellectual property; strategic acquisitions, transactions and investments; our cost reduction plan; our compliance with laws, regulations, policies and standards; our use of open source software; our stock price and earnings volatility; our indebtedness; security breaches or other misappropriation of our intellectual property or proprietary or confidential information; potential tax liabilities; global, regional or local economic conditions that impact the industries in which we operate; our ability to attract and retain qualified employees; foreign currency fluctuations; and failures in our products or services or in the products or services of our customers or licensees, including those resulting from security vulnerabilities, defects or errors. These and other risks are set forth in Qualcomm Incorporated's Annual Report on Form 10-K for the fiscal year ended September 24, 2017 filed with the SEC. Our reports filed with the SEC are available on our website at www.qualcomm.com. We undertake 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.
Pete Lancia, Corporate Communications
John Sinnott, Investor Relations
SOURCE Qualcomm Technologies, Inc.
|Company Name: Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd.
Financial data for Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd.