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QUALCOMM฀generated฀record฀revenues,฀earnings฀
and฀operating฀cash฀flows฀this฀year,฀due฀to฀the฀growing฀
acceptance฀of฀CDMA-based฀3G฀digital฀wireless฀tech-
nology฀and฀advanced฀devices.฀We฀are฀pleased฀to฀note฀
that฀our฀Company฀ranked฀number฀55฀on฀The฀Wall฀Street฀
Journal฀list฀of฀“World’s฀Largest฀Public฀Companies”฀
(based฀on฀market฀capitalization฀as฀of฀August฀31,฀2004).
1
3G฀CDMA฀IS฀WELL฀ESTABLISHED฀AND฀GROWING฀
Our฀initial฀3G฀offering—฀CDMA2000®฀1X—enabled฀
the฀world’s฀first฀commercial฀high-speed฀wireless฀voice฀
and฀data฀networks.฀In฀the฀four฀years฀since฀its฀launch฀
in฀South฀Korea,฀CDMA2000฀has฀expanded฀throughout฀
Asia,฀Australia,฀the฀Americas฀and฀Europe฀and฀second-฀
generation฀(2G)฀CDMA฀users฀have฀rapidly฀transitioned฀
to฀3G.฀The฀next฀CDMA2000฀evolution,฀CDMA2000฀
1xEV-DO,฀is฀growing฀rapidly,฀driven฀by฀users’฀desire฀for฀
higher฀data฀rate฀applications฀and฀lower฀costs฀for฀a฀range฀
of฀multimedia฀and฀data฀services.฀CDMA฀continues฀to฀
be฀the฀fastest-growing฀wireless฀standard฀of฀all฀leading฀
cellular฀technologies.2
The฀second฀widely฀used฀3G฀technology,฀Wideband฀
CDMA฀(WCDMA),฀is฀now฀driving฀an฀accelerating฀฀
transition฀from฀2G฀to฀3G฀services฀in฀Japan฀following฀฀
its฀2001฀launch฀by฀NTT฀DoCoMo.฀WCDMA฀growth฀is฀
now฀underway฀in฀Europe,฀where฀Hong฀Kong-based฀
Hutchison฀Whampoa฀was฀first฀to฀market฀in฀2003฀with฀฀
its฀3฀UK฀service฀in฀Europe.฀Vodafone,฀Telefonica,฀฀
T-Mobile,฀Orange,฀O2฀and฀many฀others฀have฀launched฀
WCDMA฀networks.฀There฀are฀now฀39฀operating฀compa-
nies฀in฀Europe฀providing฀services฀on฀WCDMA฀networks.฀
This฀exciting฀growth฀has฀benefited฀everyone฀in฀the฀CDMA฀
wireless฀value฀chain,฀from฀equipment฀manufacturers,฀
network฀operators฀and฀application฀publishers฀and฀devel-
opers,฀to฀the฀consumers฀and฀business฀users฀who฀rely฀
on฀today’s฀increasingly฀sophisticated฀wireless฀devices฀
for฀“always฀with฀you”฀communications,฀information฀and฀
entertainment฀services.฀
QUALCOMM฀owns฀many฀patents฀that฀are฀essential฀฀
to฀3G฀devices฀and฀network฀infrastructure.฀QUALCOMM฀
Technology฀Licensing฀(QTL)฀earns฀royalties฀from฀our฀
licensees.฀QUALCOMM฀CDMA฀Technologies฀(QCT)฀has฀
become฀the฀world’s฀leading฀designer฀and฀supplier฀of฀the฀
integrated฀circuits฀and฀system฀software฀(chipsets)฀found฀
in฀3G฀devices฀and฀networks฀worldwide.฀
QUALCOMM฀innovations฀speed฀the฀฀
transition฀to฀3G฀with฀exciting฀devices฀฀
and฀wireless฀multimedia฀฀

1฀฀The฀rankings฀are฀based฀upon฀data฀compiled฀by฀The฀Wall฀Street฀Journal฀Market฀Data฀Group฀in฀conjunction฀with฀FactSet฀Research฀System฀Inc.,฀based฀in฀Greenwich,฀Connecticut.฀฀
The฀companies฀were฀ranked฀by฀market฀value฀as฀of฀August฀31,฀2004.฀
2฀Source:฀CDMA฀Development฀Group.