Agreement Marks 100th Company to Accept NDRC Terms
SAN DIEGO, April 18, 2016 -- Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has signed a new 3G and 4G Chinese patent license agreement with Yulong Computer Telecommunication Scientific (Shenzhen) Co., Ltd. (Yulong), an indirect wholly owned subsidiary of Coolpad Group Limited. Under the terms of the agreement, Qualcomm has granted Yulong a royalty-bearing patent license to develop, manufacture and sell 3G WCDMA and CDMA2000 (including EV-DO) and 4G LTE (including "3-mode" GSM, TD-SCDMA and LTE-TDD) terminals for use in China. The royalties payable by Yulong are consistent with the terms of the rectification plan submitted by Qualcomm to China's National Development and Reform Commission.
"Yulong is committed to delivering products that provide its customers the extraordinary experience of a Coolpad device," said Mr. Guo Deying, chairman of the board of directors of Yulong. "This license agreement will ensure that we have access to the latest wireless technologies that will enable us to effectively compete in the Chinese market and deliver compelling user experiences to our customers."
"We are very pleased to have signed this China patent license agreement with Yulong, a long-time licensee of our patented technologies," said Derek Aberle, president of Qualcomm Incorporated. "As a leading smartphone manufacturer in China, Yulong will continue to grow its Coolpad brand and deliver advanced mobile experiences to Chinese consumers. The execution of this license agreement with Yulong marks a significant milestone for Qualcomm with 100 companies having now accepted the terms of the rectification plan submitted by Qualcomm to the NDRC."
Coolpad Group Limited (formerly known as China Wireless Technologies Limited) was founded in 1993, and was listed on the Main Board of the Stock Exchange of Hong Kong in December 2004. The Group is a leading developer and provider of integrated solutions for smartphones, mobile data platform systems and value-added business operations in China. The Group provides its products and services to enterprises, government organizations and mobile operators as well as individual consumers in China. The Group has developed advanced research and development capabilities in mobile communications. Its "Coolpad" brand has become a renowned leader in China's smartphone market.
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm's licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm's engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 30 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other.