Report: Qualcomm may have to forfeit wireless license in India

Qualcomm (NASDAQ:QCOM) may have to give up its wireless broadband wireless licenses it purchased last year for $1.5 billion during India's BWA auction.

According to an unnamed senior official at the Department of Telecom, cited by The Economic Times, Qualcomm didn't submit the required paperwork within the three-month deadline, and if the license is canceled, Qualcomm wouldn't get its $1.05 billion back.

Qualcomm is refuting the report, however, saying it hasn't heard from the government regarding its license. It told the Economic Times that it filed its application in August, well within the deadline required. Qualcomm also said it is waiting for the regulator to grant the company the license.

Qualcomm won four BWA licenses, including the two key markets of Delhi and Mumbai. In July 2010, the company announced Global Holding Corporation and Tulip Telecom as initial shareholders for its India LTE Venture.

For more:
- see this article from The Economic Times

Related articles:
Report: Qualcomm to sell Indian wireless venture to Bharti Airtel for $1.2B
TD LTE gains momentum in India
Qualcomm to sell Indian TD-LTE venture

Suggested Articles

The U.S. Department of Justice is charging Huawei with racketeering and conspiracy to steal trade secrets.

This is the year that Verizon scales its 5G mmWave build big-time, with 60 cities planned by year-end and five times more small cells.

Whether you choose mmWave, low-band or mid-band spectrum for 5G, learn why automating network slice management is key to monetization and efficiency.