Qualcomm (Nasdaq: QCOM) says it submitted the winning bid in an auction for India's broadband wireless access (BWA) spectrum in the 2.3-gigahertz band. In a statement today, the wireless technology company said it's the provisional winner of the 20-megahertz slot in the telecom circles of four cities -- Mumbai, Delhi, Haryan, and Kerala -- after bidding slightly more than $1 billion.
Qualcomm, which was among 12 bidders for broadband spectrum in India, says it anticipates the Indian government will quickly approve the auction results. To comply with India's regulations for direct foreign investments, Qualcomm says it will soon name the Indian companies that will be partners in its plans to build wireless broadband networks in the four cities.
Qualcomm and its partners plan to demonstrate Qualcomm's LTE (long-term evolution) technology with the goal of creating a network that will support 3G networks and devices to support India's broadband goals. Sometime after building these networks, Qualcomm says, it plans to "exit the venture," which presumably means the company plans to sell its stake.
In the company's statement, CEO Paul Jacobs says, "Qualcomm innovations helped trigger the wireless revolution in India by making mobile communications affordable and accessible."
Bruce V. Bigelow is the editor of Xconomy San Diego. You can email him at [email protected] or call 858-202-0492.
