Monday, November 1, 2004
Qualcomm said it will build a national high-speed wireless network for video services through its subsidiary, MediaFlo USA Inc.. The funding needed is about $800 million, to be raised by Qualcomm and other parties.
Qualcomm, which eventually plans to spin off its ownership of the subsidiary, would let U.S. mobile providers use the network to provide interactive media services to customers. It plans to begin operating the network in 2006.
It did not specify how much of the $800 million required in the next four to five years will come from third-party investors.
By: DocMemory
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