Qualcomm Elects Jon Rubinstein to Board
Qualcomm announced that it has elected Jon Rubinstein to its board of directors. Prior to joining Qualcomm's board, Rubinstein served as CEO of Palm and helped develop webOS and products such as the Palm Pre, Pixi, and Veer. Before leading Palm, Rubinstein worked for Apple on its iPod products. He has extensive experience in the mobile device and wireless industries. "His experience in creating revolutionary consumer electronics and mobile products will provide added insight to Qualcomm's board as we continue to expand the scope and impact of wireless products and technology, improving and enhancing people's lives around the world," said Qualcomm CEO Paul Jacobs. Qualcomm makes processors, baseband radios, modems, and other components for smartphones, tablets, and wireless devices.
Qualcomm to Hold Onto Chip Biz for the Time Being
Qualcomm does not plan to sell off its mobile chip business, according to Executive Chairman Paul Jacobs. Investors have been putting pressure on Qualcomm to spin off the unit, which one called "worthless." Some would prefer that Qualcomm operate strictly as a patent-licensing business.
FTC Accuses Qualcomm of Anticompetitive Behavior
The U.S. Federal Trade Commission today filed a complaint against Qualcomm, alleging the chip-maker uses its market position to monopolize the sale of cell phone baseband processors.
Qualcomm Decides to Remain As Is
Qualcomm has completed a review of its corporate structure and said it will not make any changes to its makeup and/or organization. The company was examining whether or not it would make sense to break the company up into separate parts to unlock more value for shareholders.
Qualcomm Goes After Apple's Manufacturing Partners
Qualcomm is targeting companies that manufacture Apple products in an attempt to recover royalty payments. Qualcomm sued Foxconn, Pegatron, Wistron, and Compal Electronics seeking patent fees.
EU Initiates Two Antitrust Investigations Against Qualcomm
The European Commission has opened two separate investigations into Qualcomm's business practices to determine if the chipmaker is violating antitrust regulations. The first investigation is targeting Qualcomm's alleged offer of financial incentives to companies that ordered chips only from Qualcomm.