Himachal Futuristic and Qualcomm signs 3G CDMA subscriber Unit and Modem Card License Agreement

Himachal Futuristic Communications Ltd has announced that Qualcomm Incorporated, a leading developer and innovator of CDMA 2000, WCDMA and other advanced wireless technologies, and the Company on September 25, 2006 has announced that Qualcomm and the Company have signed a commercial CDMA 2000 subscriber unit and modem card license agreement. Under the terms of the worldwide, royalty-bearing agreement, Qualcomm has granted the Company, Qualcomm's first license in India, a patent license to develop, manufacture and sell CDMA 2000 subscriber units and modem card products. The royalties payable by the Company are at Qualcomm's standard worldwide rates.

"There are currently more than 36 million CDMA subscribers in India and the Indian wireless market has grown ten-fold in less than five years", said Mr Mahendra Nahata, Chairman HFCL Group. " As the Indian market continues to grow, we believe there will be an increasing demand for more advanced, affordable CDMA 2000 wireless devices and this license agreement from QUALCOMM, the leader in CDMA technologies, will be a key factor in enabling us to meet this demand. It will also be an important milestone for HFCL to establish a leadership position with CDMA wireless devices in India, as we believe the production of these devices will open up a significant addressable market opportunity for our Company."

Source : Equity Bulls

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