Qualcomm to Invest in Chinese Start-Ups

Qualcomm Inc., seeking to spread its mobile-phone technology in markets outside of the U.S., will invest as much as $100 million in Chinese start-up companies that develop products and services based on Qualcomm patents.

In November 2000, Qualcomm said it would spend $500 million helping ventures that use its code division multiple access, or CDMA, wireless system. The Chinese investment is part of that, San Diego-based Qualcomm said.

Qualcomm shares rose $1.33, or 4%, to $34.68 on Nasdaq.

From Bloomberg News