Telecom & Wireless
Another Blow For Qualcomm (QCOM): Verizon Picks An Alternate
Published:
Verizon Wireless, a joint venture between Verizon (VZ) and Vodafone (VOD), announced that it would use so called Long Term Evolution for its 4G networks. The move is a huge blow to Qualcomm (QCOM) which has been pushing its own 4G solution.
The Long Term Evolution infrastructure will be provided by Alcatel-Lucent (ALU), Ericsson (ERIC), Nokia (NOK), Nokia-Siemens, and Sony-Ericsson. The announcement is a big win for trouble telecom equipment company ALU.
According to the FT "Verizon said it would begin trials of LTE in 2008."
Qualcomm has already been involved in intellectual property and antitrust disputes with Nokia and rival chip company Broadcom (BRCM).
Qualcomm’s stock traded near $53 in May 2006 and now changes hands at just over $41. That could get a lot worse.
Douglas A. McIntyre
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