April 13, 2011
/PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, and Zoom Technologies, Inc. (NASDAQ: ZOOM) today announced that they have entered into a subscriber unit license agreement. Under the terms of the agreement, Qualcomm has granted Zoom a worldwide, royalty-bearing patent license to develop, manufacture and sell WCDMA and TD-SCDMA subscriber units. The royalties payable by Zoom are at Qualcomm's standard worldwide rates.
"Qualcomm and Zoom Technologies both share a strong commitment to R&D and are dedicated to driving the wireless industry forward in
and around the world," said
, executive vice president and president of Qualcomm Technology Licensing. "This agreement enables them to develop, manufacture and sell advanced 3G products, greatly enhancing Zoom's competitive position in the global wireless landscape."
"This agreement with Qualcomm is an enormous step towards our advancement in the 3G market, enabling us to produce the latest products for the dynamic Chinese market," said Mr.
, chairman and chief executive officer of Zoom Technologies. "Our Nollec Wireless subsidiary, long known for its world class design team in wireless communication, will now develop highly competitive 3G products, such as smartphones, running on the Android operating system, setting in motion our plan to deliver a series of professional use 3G smartphones to
Zoom's wholly owned subsidiary Nollec Wireless, a mobile phone and wireless communication design company, will operate under the license.
About Zoom Technologies
Zoom Technologies is a holding company with subsidiaries that engage in the manufacturing, research and development, and sale of electronic and telecommunication products for the latest generation mobile phones, wireless communication circuitry and related software products. Zoom Technologies' subsidiary, Jiangsu Leimone, owns a majority stake of TCB Digital, which offers highly customized and high quality Electronic Manufacturing Service (EMS) for Original Equipment Manufacturer (OEM) customers as well as its Own Brand Manufacturing (OBM) under the Zoom and Leimone brand names. The company's products are both exported and sold domestically.