UPDATE 1-Qualcomm to bid for India broadband airwaves

* Says move would facilitate deployment of TD-LTE

* To get Indian partners after auction to comply with rules

* Auction to be held in April
(Adds details)

NEW DELHI, March 17 (BestGrowthStock) – Qualcomm Inc (QCOM.O: ) said
on Wednesday it had applied to bid for radio waves in India’s
Broadband Wireless Access (BWA) auction to help launch
next-generation technologies.

India, the world’s fastest-growing mobile services market,
plans to conduct auctions of 3G and BWA spectrum in April that
is expected to fetch the government a combined $7.7 billion.

While 3G systems allow high-speed Internet access and data
transfer on mobile phones, BWA technologies enable high-speed
data communication over wireless links and provide better
coverage than fixed-line broadband systems.

The 3G spectrum auction starts from April 9 and two days
after it closes, the BWA auction will kick off, the government
has said.

Global players such as Vodafone (VOD.L: ) and Telenor
(TEL.OL: ) are also expected to participate in the 3G auction,
while nedia reports have said Google (GOOG.O: ) could be
interested in the BWA auction.

The last day for applications for both is on Friday.

New Delhi has set a base price of 17.5 billion rupees ($385
million) for the BWA spectrum in all of India, but bids are
expected to come at higher levels.

“Qualcomm has a history of participating in spectrum
auctions to expedite the commercialization of new wireless
technologies,” the company said in a statement.

“By participating in India’s BWA spectrum auction, Qualcomm
can foster the accelerated deployment of TD-LTE,” it said,
referring to the fourth-generation (4G) long-term evolution
technology.

India restricts foreign direct investment at 74 percent in
telecoms service providers, and Qualcomm said it would have
Indian partners if successful in winning spectrum.

The company will hold a news conference at 0930 GMT to
answer questions related to the announcement, it said.

Stock Market Advice

(Reporting by Devidutta Tripathy; Editing by Ranjit
Gangadharan)

UPDATE 1-Qualcomm to bid for India broadband airwaves