Qualcomm unveils new corporate structure

SAN DIEGO (

The street

) —

Apple (AAPL) – Get the Apple Inc. partner

Qualcomm

(COMQ) – Get the QUALCOMM Incorporated report

announced its intention to overhaul its corporate structure with the aim of accelerating the delivery of its products and protecting its patent portfolio.

Under the new structure, parent company Qualcomm Inc. will include Qualcomm’s technology licensing division, known as QTL, as well as the chipmaker’s corporate functions and most of Qualcomm’s patent portfolio. the company.

Qualcomm announced a new corporate structure.

A new wholly-owned subsidiary, Qualcomm Technologies Inc. (QTI), along with its subsidiaries, will operate most of the company’s R&D and product and service activities. The semiconductor business of chip specialist Qualcomm CDMA Technologies, known as QCT, will be operated by QTI.

“Our internal reorganization will provide even greater protection to our industry-leading intellectual property portfolio as our products and services businesses seek to accelerate innovation and bring our products to market quickly,” explained the CEO of Qualcomm, Paul Jacobs, in the company’s statement. “We are confident that this change to our corporate structure will be accomplished with little or no disruption to employees and customers.”

Qualcomm, which is considered one of the stocks best positioned for the

to push

to 4G networks, said the new structure will strengthen the company’s ability to defend its patents.

“The company expects QTI and its subsidiary products and services businesses to increase their work with open source software in the future,” it said in its statement. “This restructuring will, among other things, help to ensure that the activities of QTI and its subsidiaries do not result in the licensing of any of Qualcomm Incorporated’s patents, including its 3G and 4G patents.”

Scroll to continue

Qualcomm expects the new corporate structure to take effect in the first fiscal quarter of 2013. The company expects no change in how it defines its operating segments for business purposes. financial information following the restructuring.

The San Diego-based company significantly beat analysts’ forecasts in its recent fiscal second quarter results, although investors were

less than impressed

by company advice.

During the second quarter, Qualcomm cited supply constraints for its 28-nanometer chips as demand exceeded supply

Shares of Qualcomm, which have gained just 0.38% this year, were down 0.84% ​​at $54.45 in premarket trading on Thursday.

–Written by James Rogers in New York.

Follow @jamesjrogers

>To submit a news tip, send an e-mail to:

tips@thestreet.com

.

Discover our new technology blog,

Technology Trends

. Follow TheStreet Tech

on your wireless devices

.