Cellphone chip supplier Qualcomm Inc plans to fold its research and development activities and its product and services businesses into a wholly owned unit to better protect its patent portfolio.
Under the new corporate structure, Qualcomm Inc will include the company’s technology licensing division, corporate functions and most of its patent portfolio, the company said.
Qualcomm Technologies Inc (QTI), the new subsidiary, will increasingly work with open source software and help protect the parent company’s patents from being licensed out due to their activities.
The company said it expects to complete the restructuring during the first fiscal quarter of 2013.
The company’s shares closed at $54.91 on the Nasdaq on Wednesday.
Source : Reuters
