Qualcomm Signs Letter of Intent with Powermat to Investigate New Wireless Power Solutions for Consumers
– January 06, 2011 – Qualcomm Incorporated (NASDAQ: QCOM) and Powermat Ltd., the leader in wireless power, announced the signing of a non-binding Letter of Intent (LOI) to explore the possibilities of developing cutting-edge wireless power solutions.
According to the terms of the LOI, Qualcomm and Powermat intend to: investigate the convergence of tightly and loosely coupled wireless power technologies to deliver a flexible coupling wireless power solution; work together to build an industry alliance that supports flexible coupling-based wireless power; investigate the development of dual-mode receiver ASICs that work with Qualcomm’s Wipower™ technology and that are backward compatible to Powermat’s charging mats; and have Powermat offer a single-mode wireless power solution based on Qualcomm’s WiPower technology that will supplement the current Powermat product line.
“We are extremely excited with the prospect of working closely with one of the industry’s premier wireless power companies to bring innovative wireless power solutions to market,” said Steve Mollenkopf, executive vice president and group president of Qualcomm. “Qualcomm has leveraged its deep heritage of wireless innovation to develop what we hope will become the technology of choice for flexible coupling-based wireless power. We look forward to building this new industry alliance and seeing the potential solutions that flexible coupling-based wireless power can create for a new generation of consumers.”
“Together, Powermat and Qualcomm have the opportunity to make a world without wires a reality. Our vision is to change the way in which people charge and power electrical devices in all environments and create an unprecedentedly convenient, safe and green user experience. Collaborating with Qualcomm is the perfect approach to bring the vision to reality,” said Ran Poliakine, Powermat CEO.
Qualcomm’s innovative WiPower technology, a new near-field magnetic resonance technology used to charge battery powered devices such as smartphones and tablets, will be on display at the 2011 International CES, January 6-9 in Qualcomm’s exhibit located in the Las Vegas Convention Center, South Hall, Upper Level #30313. Powermat is located in Central Hall #7905 and will be displaying numerous applications of its commercially successful wireless power technology.
Powermat was the first company to perfect inductive-based wireless charging and to bring it to consumers in a widely available, meaningful way via mainstream retail channels. The undisputed leader in wireless charging, Powermat leads the category in all facets including technology, retail footprint, consumer experience, and brand. Powermat allows users to enable their electronic devices once with a Powermat receiver and then set down up to three devices on the charging mat for safe and effective wireless charging. It’s simple, effortless, and provides consumers with first-of-its-kind freedom from the need to constantly plug/unplug, as well as the angst of running on empty.
Qualcomm Incorporated (NASDAQ: QCOM) is the world leader in next-generation mobile technologies. For 25 years, Qualcomm ideas and inventions have driven the evolution of wireless communications, connecting people more closely to information, entertainment and each other. Today, Qualcomm technologies are powering the convergence of mobile communications and consumer electronics, making wireless devices and services more personal, affordable and accessible to people everywhere. For more information, visit Qualcomm around the Web:
Corporate Blog: www.qualcomm.com/blog
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including the possibility of not reaching a binding agreement with Powermat, Qualcomm’s ability to successfully design and have manufactured significant quantities of WiPower components on a timely and profitable basis, the extent and speed to which WiPower is deployed, change in economic conditions of the various markets Qualcomm serves, as well as the other risks detailed from time to time in the Qualcomm’s SEC reports, including the report on Form 10-K for the year ended September 26, 2010.
Qualcomm is a registered trademark of Qualcomm Incorporated. WiPower is a trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.