Last week and this week their have been reports that India’s third largest mobile service provider, Reliance Infocomm would kiss goodbye to CDMA technology and slowly migrate to GSM. Reliance Infocomm’s subscriber constitute 8% of Qualcomms total subscriber base and around 10% fo the bottomline(I am not positive). This announcement has prompted Qualcomm CEO Paul Jacobs to fly to India and meet Reliance executives.
Nokia also announced that they would stop making CDMA handsets. Both of these developments sent the Qualcomm stock down 10% this week.