Qualcomm Airs Restructuring PlanFriday, June 29, 2012
Qualcomm Inc. is changing its corporate structure to better manage its patent portfolio contained in a division called Qualcomm Technology Licensing, the company said June 28.
The new structure features the parent company Qualcomm Inc., which will include QTL and corporate functions, and all its patents. It will also include a new wholly owned subsidiary called Qualcomm Technologies Inc., which along with its subsidiaries, will operate all of Qualcomm’s research and development activities, and its products and services, including its semiconductor business.
The changes generally formalize the way the company has been operating. Qualcomm said it expects QTI’s workload will increase with open source software in the future and the restructuring will ensure the subsidiary’s activities do not result in any new licensing of patents, including 3G and 4G patents.
Qualcomm said it’s not doing the restructuring in advance of a planned spin-out of either QTL or its semiconductor business called QCT.
The company said the new corporate structure will become effective during the first quarter of its 2013 fiscal year in October.
In other news, CEO Paul Jacobs said he wouldn’t rule out owning a chip manufacturing plant or using some of the company’s significant cash resources to ensure access to chips for the growing demand of phones and devices, according to Bloomberg.
Earlier this year, Qualcomm said its 2012 earnings growth was going to be constrained because it couldn’t obtain all the chips it needs from its main contractor, Taiwan Semiconductor Manufacturing Co., Bloomberg reported.