Qualcomm Commits Up To $150 Million to Strategic Venture Fund in China

    Qualcomm Commits Up To $150 Million to Strategic Venture Fund in China

PR Newswire

SAN DIEGO, July 23, 2014

SAN DIEGO, July 23, 2014 /PRNewswire/ --Qualcomm Incorporated (NASDAQ: QCOM)
today announced that it has made a commitment to invest up to $150 million in
Chinese startup companies across all stages. Qualcomm will invest in Chinese
companies that further the development of mobile technologies in the following
areas: Internet; e-commerce; semi-conductor; education and health. Qualcomm is
pleased to announce that Cambridge Wowo, a mobile education start-up, and
Boohee, a mobile healthcare company, were recently funded. Qualcomm Ventures,
the venture investment arm of Qualcomm, will advise and direct Qualcomm's
investment activities with respect to these strategic investments.

Qualcomm has been actively investing in China for more than 10 years and this
new commitment is driven by the burgeoning start-up community in mobile and
wireless as well as the success Qualcomm has had with several Chinese
investments. Previous investments which led to successful exits in Chinese
companies include: Enorbus (acquired by Walt Disney Co.); Aicent (acquired by
TA Associates); and NetQin (NYSE: NQ). Other notable Chinese investments
consist of Xiaomi, Thundersoft, MadHouse, CooTek, Yongche, Dolphin Browser,
Alo7, and Hawkeye. Qualcomm also sees China as a strong player in the
semiconductor industry and Qualcomm wants to increase investments in this area
to add to its existing strategic investments in Chinese companies such as
Advanced Micro-Fabrication Equipment Inc. (AMEC), a developer of semiconductor

Chinese companies receiving investments from Qualcomm can benefit from
Qualcomm's insights on mobile technologies and leverage Qualcommrelationships
throughout the industry.

"Since first introducing our technology and products in China well over a
decade ago, Qualcomm has contributed to China's wireless industry through
investing in research and development, licensing our advanced technologies,
and providing the most advanced chipsets to Chinese companies," said Steve
Mollenkopf, chief executive officer of Qualcomm Incorporated. "Our strategic
collaboration with and technical support of the Chinese wireless industry has
helped this vibrant ecosystem, helped drive direct and indirect employment,
and contributed to economic growth in the entire Chinese wireless industry.
Through these strategic collaborations and increased venture investments,
Qualcomm remains committed to supporting the continuous growth of China's
flourishing mobile ecosystem, the development of 4G LTE networks, devices and
applications, and addressing industry evolutions and challenges, including the
impending 1000x mobile data challenge."

Qualcomm Ventures was formalized in 2000 and currently has a portfolio of more
than 100 active companies and 20 investment managers across the globe.
Qualcomm Ventures also invests in seed stage companies through its
QPrize/Mobile Internet Startup Competition which evaluates and awards seed
funding for promising early stage Chinese entrepreneurs.

For more information please visit www.qualcommventures.com.

About Qualcomm Incorporated

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 25 years, Qualcomm ideas and inventions have
driven the evolution of digital communications, linking people everywhere more
closely to information, entertainment and each other. For more information,
visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.

Qualcomm Contacts:
Tina Asmar, Corporate Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com

Warren Kneeshaw, Investor Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com

SOURCE Qualcomm Incorporated

Website: http://www.qualcomm.com
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