Qualcomm To Bid For Wireless Spectrum In India (QCOM)
Qualcomm Inc. (NASDAQ: QCOM) has announced its plans to bid for the wireless broadband spectrum in India. The company has already filed an application with the Indian government. India is holding an auction for two slots of radio bandwidth for broadband wireless technology. The base price for each slot has been set at $386 million.
Kanwalinder Singh, South Asia president of Qualcomm (QCOM), said, “Over a five year horizon, it's an attractive proposition for us to invest." Qualcomm is planning to bid for one slot. If successful, the company may look for local partners in compliance with Indian government’s requirement. The deal will also help Qualcomm in deploying its TD-LTE technology.
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