Qualcomm may exit India broadband mid-2011

BANGALORE, INDIA: U.S. chipmaker Qualcomm could exit its wireless broadband business in India by the second half of next year, the Business Line newspaper reported on Wednesday citing the company's chief executive.

Qualcomm had spent about $1 billion to buy wireless airwaves in Mumbai, New Delhi, Haryana and Kerala circles in an auction earlier this year.

"It is possible that by the time our network is ready to launch by second-half of next year, the broadband venture may be owned by another player," the report quoted Paul Jacobs as saying. "We never wanted to be the operator and we are very transparent about it."

The company has made initial presentations to potential buyers, Jacobs told the paper.

Qualcomm company officials could not be reached for comments immediately.

Last month, The Economic Times had reported India's top mobile operator Bharti Airtel and smaller rival Aircel were in the race to buy Qualcomm's broadband business, which it was looking to sell at a minimum of 50 billion rupees ($1.1 billion).

In July, Qualcomm agreed to sell 26 percent stake in its India broadband venture to Indian firms Global Holdings and Tulip Telecom for about $58 million.