Qualcomm’s New Corporate Structure
Effective October 1, 2012, QUALCOMM Incorporated completed a corporate reorganization in which the assets of certain of its businesses and groups, as well as the stock of certain of its direct and indirect subsidiaries, were contributed to Qualcomm Technologies, Inc. (QTI), a wholly-owned subsidiary of QUALCOMM Incorporated that was created for purposes of the reorganization.
Qualcomm Technology Licensing (QTL), the Company’s patent licensing business, continues to be operated by QUALCOMM Incorporated, which continues to own the vast majority of the Company’s patent portfolio. Substantially all of the Company’s products and services businesses, including its semiconductor business QCT, as well as substantially all of the Company’s engineering, research and development functions, are now operated by QTI and its direct and indirect subsidiaries. Neither QTI nor any of its subsidiaries has any right, power or authority to grant any licenses or other rights under or to any patents owned by QUALCOMM Incorporated.
The changes in our corporate structure generally formalize the way we have been operating, and continue to operate, our primary businesses. The changes have been implemented, among other reasons, in order to enhance our ability to quickly deliver products to our customers, while further protecting and insulating our valuable patent portfolio.
