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Qualcomm cans UMB, focuses on LTE

Posted on Saturday, November 15 2008 @ 08:36:19 CET by


Qualcomm announced it has quit development of the Ultra Mobile Broadband wireless technology to put its resources into Long Term Evolution:
Qualcomm Inc, seeking to cut costs in the face of slowing demand for cell phones, has stopped developing a next-generation wireless technology called Ultra Mobile Broadband.

The wireless chip maker will put its resources into a rival high-speed technology called Long Term Evolution, which some of its major customers, such as Verizon Wireless, have backed, said Qualcomm Chief Executive Paul Jacobs.

Jacobs told an annual analysts' meeting on Thursday that there are no plans to undertake "a large layoff across the company" as he expects a modest market recovery in cell phone chip demand the second half of 2009.



 



 

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