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Thursday, November 13, 2008

Qualcomm halts UMB project

Source: Reuters
Qualcomm Inc seeking to cut costs in the face of slowing demand for cell phones, has stopped developing a next-generation wireless technology called Ultra Mobile Broadband and is making small-scale layoffs.

The wireless chip maker will instead put its resources into a rival high-speed technology called Long Term Evolution, which some of its major customers, such as Verizon Wireless, have backed, said Qualcomm Chief Executive Paul Jacobs.

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