Qualcomm recently announced that the company is poised to form a LTE (Long Term Evolution) JV with India's Global Holding and Tulip Telecom, with an aim to launch the LTE service in 2011, according to a press release by Qualcomm. According to laws set by the India's government, a foreign company with a license cannot own more than 74% in an India-registered company and the remaining stake should be hold by local Indian companies. Qualcomm stated that the company abided by the laws, holding a 74% stake in the JV for US$164.3 million, while Global Holding and Tulip Telecom will each hold 13% stake for US$28.86 million each. The investment, however, is still pending approval by the government.

 

Qualcomm earlier won a bid for BWA (Broadband Wireless Access) spectrum auctions to offer the LTE service in four of Indian's 22 telecom circles, including Delhi, Mumbai, Kerala, and Haryana.