高通 (QCOM) 2003 Q4 法說會逐字稿

Ladies and gentlemen, thank you for standing by.

女士們先生們，謝謝你們的支持。

Welcome to the QUALCOMM fourth quarter conference call.

歡迎參加高通第四季電話會議。

At this time all participants are in a listen-only mode.

此時所有參與者都處於只聽模式。

Later we will conduct a question-and-answer session.

稍後我們將進行問答環節。

If you have a question, you will need to press the one followed by the four on your push button phone.

如果您有疑問，您需要在按鍵式電話上按 1，然後按 4。

Due to the time constraints of this call, please limit your questions to one per participant.

由於本次電話會議的時間限制，請將您的問題限制為每位參與者一個。

As a reminder, this conference is being recorded Wednesday, November 5, 2003.

提醒一下，本次會議是在 2003 年 11 月 5 日星期三錄製的。

The play back number for today's call is 1-800-633-8284.

今天通話的回放號碼是 1-800-633-8284。

International callers please dial 402-977-9140.

國際電話請撥 402-977-9140。

The play back reservation number is 21153026.

回放預約號碼為21153026。

I would now like to turn the call over to Mr. Bill Davidson, vice president of investor relations.

我現在想把電話轉給投資者關係副總裁比爾戴維森先生。

Bill, please go ahead.

比爾，請繼續。

Good afternoon.

午安.

Today's call will include comments by Dr. Irwin Jacobs, Tony Thornley, Dr. Paul Jacobs, Dr. Sanjay Jha, and Bill Keitel.

今天的電話會議將包括 Irwin Jacobs 博士、Tony Thornley 博士、Paul Jacobs 博士、Sanjay Jha 博士和 Bill Keitel 的評論。

An internet presentation and audio broadcast accompanies this call, and you can access it by visiting www.qualcomm.com.

本次電話會議附帶網路演示和音訊廣播，您可以透過造訪 www.qualcomm.com 進行觀看。

In addition, an audio rebroadcast will be available on our website for approximately two weeks.

此外，我們的網站上將提供大約兩週的音訊重播。

During this conference call, if we use any non-GAAP financial measures as defined by the SEC and Regulation G, you will find the required reconciliations to GAAP on the website.

在本次電話會議期間，如果我們使用 SEC 和 G 條例定義的任何非 GAAP 財務指標，您將在網站上找到所需的 GAAP 調整表。

I would also direct you to our 10-K and our earnings release, both of which were filed with the SEC today and are available on our website.

我也會引導您查看我們的 10-K 和收益報告，這兩份報告均已於今天向 SEC 提交並可在我們的網站上取得。

We may also make forward-looking statements that may differ materially from QUALCOMM's actual results.

我們也可能做出與高通實際結果有重大差異的前瞻性陳述。

Please review our SEC filings for a detailed presentation of each of our businesses and associated risks.

請查看我們向 SEC 提交的文件，以了解我們每項業務和相關風險的詳細介紹。

I will begin with a summary of QUALCOMM's fourth fiscal quarter and full fiscal year financial results.

我將先總結高通第四財季和整個財年的財務表現。

Fourth quarter revenues were $909 million, up 4% year-over-year.

第四季營收為 9.09 億美元，年增 4%。

Fourth quarter net income was $291 million or 35 cents per share, up 53% and 52% compared to last year's fourth quarter.

第四季淨利為2.91億美元，每股收益35美分，較去年第四季成長53%和52%。

Fiscal year 2003 revenues were $4 billion, up 31% compared to fiscal 2002.

2003 財年的營收為 40 億美元，比 2002 財年成長了 31%。

Net income was $827 million or $1.01 per share, both up 130% from last fiscal year.

淨利潤為 8.27 億美元，即每股 1.01 美元，均較上一財年增長 130%。

Excluding the QUALCOMM strategic initiative segment, fourth quarter revenues were $870 million, up 4% compared to last year's fourth quarter.

不包括高通戰略計畫部門，第四季營收為8.7億美元，比去年第四季成長4%。

Net income excluding the QSI segment was $236 million or 29 cents per share both down 5% and 6% from last year's fourth quarter.

不包括 QSI 部門的淨利潤為 2.36 億美元，即每股 29 美分，較去年第四季分別下降 5% 和 6%。

Fiscal 2003 revenues excluding the QSI segment were $3.8 billion, up 32% compared to fiscal 2002.

不包括 QSI 部門的 2003 財年營收為 38 億美元，比 2002 財年成長 32%。

Net income including QSI was $1.2 billion, up 46% compared to fiscal 2002.

包括 QSI 在內的淨利潤為 12 億美元，比 2002 財年增長 46%。

Earnings per share excluding the QSI segment were $1.42, up 45% compared to fiscal 2002.

不包括 QSI 部門的每股收益為 1.42 美元，比 2002 財年增長 45%。

Before turning the call over to Dr. Jacobs, I would like to mention that QUALCOMM is hosting an analyst meeting in London on November 12, with detailed presentations from our executive team.

在將電話轉給 Jacobs 博士之前，我想提一下，高通將於 11 月 12 日在倫敦舉辦分析師會議，我們的執行團隊將進行詳細介紹。

The meeting be simulcast on our website with audio and slide presentations.

會議將在我們的網站上同步直播，並提供音訊和幻燈片演示。

And now I will introduce Dr. Irwin Jacobs, chairman and CEO.

現在我介紹一下董事長兼執行長歐文·雅各布斯博士。

Thank you, Bill, and good afternoon, everyone.

謝謝比爾，大家下午好。

Our fiscal year earnings showed exceptional growth year-over-year and exceeded our expectations.

我們的財年獲利年增異常，超出了我們的預期。

The employees of QUALCOMM have once again demonstrated their commitment to customers and our business by delivering an outstanding performance.

高通員工以出色的表現再次體現了他們對客戶和我們業務的承諾。

The CDMA market now represents 24% of the global wireless market for handsets, up from 20% last year.

CDMA 市場目前佔全球手機無線市場的 24%，高於去年的 20%。

The resulting economies of scale are contributing to lower handset costs and thus further growth relative to competing technologies.

由此產生的規模經濟有助於降低手機成本，進而相對於競爭技術進一步成長。

We expect to complete the calendar year with CDMA phone shipments of 106 to 108 million units, at the higher end of our previous guidance.

我們預計 2019 年 CDMA 手機出貨量將達到 1.06 至 1.08 億部，高於我們先前指引值的上限。

We currently estimate the number of CDMA phones sold in calendar 2004 to grow to approximately 131 to 136 million units.

我們目前估計 2004 年 CDMA 手機的銷售數量將成長到約 13.1 至 1.36 億支。

As we projected in July, carry inventories appear to be at normal levels.

正如我們 7 月預測的那樣，套利庫存似乎處於正常水平。

Unique service offerings in India and steady growth in China combined with some component shortages have occasioned some inventory shortages.

印度獨特的服務和中國的穩定成長加上一些零件短缺導致了一些庫存短缺。

In China, mobile phone carrier China Unicom said that at end of September it had approximately17 million subscribers on its CDMA network.

在中國，行動電話業者中國聯通表示，截至9月底，其CDMA網路擁有約1,700萬用戶。

They already have 337,000 prepaid customers, a popular new service introduced recently.

他們已經擁有 337,000 名預付費客戶，這是最近推出的一項受歡迎的新服務。

China Unicom recently concluded its GSM 1X phase one trial.

中國聯通近期結束了GSM 1X一期試驗。

This trial successfully tested the world's first GSM and CDMA 2000 multimode handset supplied by QUALCOMM and using our MSM 6300 multimode shift.

這項試驗成功測試了高通公司提供的世界上第一款 GSM 和 CDMA 2000 多模手機，並使用了我們的 MSM 6300 多模轉換。

The handset was used to demonstrate GSM and CDMA operation with a single UIM with roaming between GSM and CDMA networks.

這款手機用於演示使用單一 UIM 進行 GSM 和 CDMA 操作，並在 GSM 和 CDMA 網路之間漫遊。

China Unicom confirmed that strong interest in the potential of multimode handsets for its commercial network.

中國聯通證實對其商用網路的多模手機潛力表現出濃厚興趣。

India continues to experience strong growth and operators have delivered on their promise to reduce the cost of wireless and make it more affordable and for the masses.

印度持續強勁成長，營運商兌現了降低無線成本、讓大眾更負擔得起的承諾。

We see significant growth opportunity in India as the addressable market for wireless is in the hundreds of millions.

我們在印度看到了巨大的成長機會，因為無線的潛在市場有數億。

CDMA subscribers in India now total over 5 million users.

目前印度的 CDMA 用戶總數已超過 500 萬。

According to EMC World Cellular Data Base 2003, CDMA subscribers have grown over 92% in last four months compared to slightly over 20% growth in GSM subscribers during the same period.

根據 2003 年 EMC 世界蜂窩資料庫，過去四個月 CDMA 用戶成長了 92% 以上，而同期 GSM 用戶成長略高於 20%。

As of the end of September, Reliance Infocom das confirmed that it had crossed the 5 million subscriber milestone, including their legacy GSM subscribers.

截至 9 月底，Reliance Infocom das 確認其用戶數量已突破 500 萬里程碑，其中包括其傳統 GSM 用戶。

Reliance's creative and aggressive marketing is paying off with a very strong consumer demand.

Reliance 富有創意且積極進取的行銷活動帶來了強勁的消費者需求。

Accord to the Financial Express on September 29, 2003, Reliance was realizing between 30,000 to 35,000 new subscriber additions every day and is just introducing an attractive prepaid service.

根據 2003 年 9 月 29 日《金融快報》報道，Reliance 每天新增 30,000 至 35,000 名新用戶，並且剛剛推出一項有吸引力的預付費服務。

Further, a unified license covering both cellular and wireless local loop has just obtained cabinet approval, allowing Reliance, TADA and other CDMA carriers to offer full mobile services.

此外，涵蓋蜂窩和無線本地環路的統一許可證剛剛獲得內閣批准，允許 Reliance、TADA 和其他 CDMA 營運商提供全面的行動服務。

The BREW platform is now supported by ten wireless operators in 7 countries.

BREW 平台現已獲得 7 個國家/地區的 10 家無線營運商的支援。

Their customers have made over 50 million downloads of BREW software applications and usage is accelerating.

他們的客戶已經下載了超過 5000 萬次 BREW 軟體應用程序，並且使用量正在增加。

Based on the ever more powerful 3D device capabilities and their financial success, the BREW global developer community is rapidly expanding the number and variety of applications, BREW is proving to be a powerful tool, allowing wireless operators, device manufacturers and developers to reduce costs, improve performance and realize new revenue streams by delivering applications and software updates to consumers over the air and enabling richer content delivery.

基於日益強大的3D 設備功能及其財務上的成功，BREW 全球開發者社群正在迅速擴大應用程式的數量和種類，BREW 被證明是一個強大的工具，可以讓無線營運商、設備製造商和開發者降低成本，透過無線方式向消費者提供應用程式和軟體更新並實現更豐富的內容交付，從而提高效能並實現新的收入來源。

There is no question that wireless data services are becoming an ever more significant part of wireless revenues.

毫無疑問，無線數據服務正成為無線收入中越來越重要的一部分。

To that end, operators increased confidence in wireless data is evidenced by the adoption of 1xEVDO Joining other operators in the United States, South Korea and Brazil, Verizon has recently introduced commercial CDMA 2000 1xEVDO networks in Washington, D.C. and San Diego and is examining broader coverage.

為此，營運商對 1xEVDO 的採用增強了對無線數據的信心。Verizon 最近與美國、韓國和巴西的其他運營商一起在華盛頓特區和聖地亞哥推出了商用 CDMA 2000 1xEVDO 網絡，並正在研究更廣泛的網絡覆蓋範圍。

I personally am benefitting by obtaining broadband EVDO coverage throughout the county for my laptop, with connectivity seamlessly changing to CDMA 1x as I cross outside of county coverage.

我個人受益於我的筆記型電腦獲得了整個縣的寬頻 EVDO 覆蓋，當我跨越縣覆蓋範圍時，連接無縫地更改為 CDMA 1x。

In Japan, KDDI has announced its introduction of CDMA 2000 1xEVDO commercial service starting November 28 and plans to expand to nationwide coverage by the fall of 2004.

在日本，KDDI 宣布從 11 月 28 日開始推出 CDMA 2000 1xEVDO 商業服務，並計劃在 2004 年秋季擴大到全國覆蓋範圍。

Many other operators are now trialing or preparing to launch EVDO service.

許多其他業者現在正在嘗試或準備推出EVDO服務。

On the position location front, the United States House of Representatives has just approved the Enhanced 911 Implementation Act of 2003.

在立場方面，美國眾議院剛剛批准了2003年強化911實施法案。

This act authorizes federal financial assistance to 911 dispatch centers that are upgrading their facilities to receive enhanced 911 data from wireless handsets.

該法案授權向 911 調度中心提供聯邦財政援助，這些中心正在升級其設施，以便從無線手機接收增強的 911 數據。

At an FCC hearing last week, rural carriers expressed a dissatisfaction with the performance of network-based positional location solutions.

在上週的 FCC 聽證會上，農村營運商對基於網路的定位解決方案的性能表示不滿。

There was concurrence among the rural carriers present that assisted GPS handsets, the technology we enable through Snaptrack, will be the only viable solution for complying with the FCC's accuracy requirements.

出席的農村營運商一致認為，輔助 GPS 手機（我們透過 Snaptrack 支援的技術）將是符合 FCC 精度要求的唯一可行解決方案。

Verizon Wireless, the clear leader in complying with the FCC mandate, has implemented service and dispatch centers in 29 states that cover approximately 65 million people.

Verizon Wireless 是遵守 FCC 規定的明顯領先者，已在 29 個州建立了服務和調度中心，覆蓋約 6500 萬人口。

Verizon is currently selling 19 assisted GPS handsets.

Verizon 目前正在銷售 19 款輔助 GPS 手機。

The time has come and I am personally excited to see the important advances in commercial WCDMA networks.

時機已到，我個人很高興看到商用 WCDMA 網路的重要進展。

It now appears that worldwide WCDMA handset shipments for 2004 will be in the 15 million unit range.

現在看來，2004 年全球 WCDMA 手機出貨量將在 1,500 萬支左右。

In Europe, WCDMA is now demonstrating that it provides a powerful and timely upgrade path from GSM networks to 3G services, [INAUDIBLE] high quality and economic [INAUDIBLE] as well as a range of new data services.

在歐洲，WCDMA 現在正在證明它提供了從 GSM 網路到 3G 服務的強大且及時的升級路徑、[聽不清楚]高品質和經濟性[聽不清楚]以及一系列新的數據服務。

In 2004, a rich variety of new WCDMA phones and devices will enter the market, many powered by QUALCOMM chips.

2004 年，種類豐富的新型 WCDMA 手機和裝置將進入市場，其中許多都採用高通晶片。

We have undertaken successful with WCDMA and GSM GPRS field trials on networks in Asia, Europe and North America, marking a significant step toward WCDMA network commercialization using our multimode MSM and direct conversion 0IF radio frequency chips.

我們已經在亞洲、歐洲和北美網路上成功進行了WCDMA和GSM GPRS現場試驗，標誌著使用我們的多模MSM和直接轉換0IF射頻晶片向WCDMA網路商業化邁出了重要一步。

We believe our proven CDMA and recently GSM-GPRS capabilities together with our attention to operator and manufacturer requirements and our great experience from CDMA 2000 position us to achieve our 50% target market share in WCDMA.

我們相信，我們經過驗證的 CDMA 和最近的 GSM-GPRS 功能，加上我們對營運商和製造商要求的關注以及 CDMA 2000 的豐富經驗，使我們能夠實現 WCDMA 50% 的目標市場份額。

I would like to conclude by highlighting two key indicators of QUALCOMM's financial strength.

最後，我想強調高通財務實力的兩個關鍵指標。

First, we initiated a $1 billion stock repurchase program and have made net repurchases of $158 million to date date.

首先，我們啟動了 10 億美元的股票回購計劃，迄今已淨回購 1.58 億美元。

Second, QUALCOMM initiated its first quarterly dividend increased that dividend by 40% in the fourth quarter.

其次，高通公司啟動了第一個季度股息，並將第四季的股息增加了40%。

Our business continues to generate strong and growing cash flow.

我們的業務持續產生強勁且不斷成長的現金流。

We are confident in our ability to continue generating cash and feel the dividend is a good way to return value to our shareholders.

我們對繼續產生現金的能力充滿信心，並認為股利是向股東回報價值的好方法。

Since its inception this year, we have paid $135 million in dividends.

自今年成立以來，我們已支付了 1.35 億美元的股息。

I will now turn the call over to Tony Thornley for the global business overview.

我現在將把電話轉給托尼·索恩利，以了解全球業務概況。

Thank you, Irwin, and good afternoon.

謝謝你，歐文，下午好。

Fiscal 2003 was a great year for QUALCOMM.

2003 財年對高通來說是個偉大的一年。

Innovation and commitment to our customers resulted in excellent growth in revenue, earnings and cash flow.

創新和對客戶的承諾帶來了收入、收益和現金流的出色成長。

The market for CDMA in 2004 looks to be very good, with WCDMA really beginning the growth curve.

2004 年 CDMA 市場看起來非常好，WCDMA 真正開始了成長曲線。

We see many opportunities ahead and are investing significantly in R&D in 2004 to continue leading the industry in a much larger served market.

我們看到了未來的許多機遇，並在 2004 年大力投資研發，以在更大的服務市場中繼續引領產業。

We also expect competition will intensify given the CDMA market expansion with the opportunities it presents.

我們也預計，鑑於 CDMA 市場的擴張及其帶來的機遇，競爭將會加劇。

We do expect revenue and earnings in 2004 excluding QSI to be relatively flat to 2003 largely because of the increased investment and somewhat lower chip market share.

我們確實預計 2004 年（不包括 QSI）收入和利潤將與 2003 年持平，這主要是因為投資增加以及晶片市場份額有所下降。

Bill Keitel will talk in more detail on this later.

比爾·凱特爾稍後將對此進行更詳細的討論。

However, as we look at the trends and with data and video becoming very important drivers of revenues for all players in the wireless industry, our experience coupled with the increased investment we plan positions us for further substantial growth in revenue, earnings and cash flow in future years.

然而，當我們審視趨勢時，隨著數據和視訊成為無線行業所有參與者非常重要的收入驅動因素，我們的經驗加上我們計劃增加的投資使我們能夠在收入、盈利和現金流方面進一步大幅增長。未來幾年。

I will now look at our progress by market, and I'll begin with North America.

現在我將按市場來看看我們的進展，我將從北美開始。

CDMA continues its leadership position with 48% market share in North America today with 70 million subscribers, and its market share continues to expand.

CDMA 繼續保持領先地位，目前在北美擁有 7000 萬用戶，佔據 48% 的市場份額，並且其市場份額還在繼續擴大。

Verizon Wireless' retail customer base grew nearly 14% year-over-year and represented 34.6 million of the company's 36 million total customers to the end of September.

截至 9 月底，Verizon Wireless 的零售客戶群年增近 14%，佔該公司 3,600 萬客戶總數中的 3,460 萬。

To the end of the quarter, the company had nearly 10 million revenue generating data subscribers.

截至本季末，該公司已擁有近 1,000 萬創收數據用戶。

Data usage on the company's -- that being Verizon, of course, national access 1x data network significantly increased over the preceding quarter.

當然，該公司（即 Verizon）全國接入 1x 數據網路的數據使用量比上一季顯著增加。

Data services now account for more than 2% of Verizon's total service revenue.

數據服務目前佔Verizon 總服務收入的2% 以上。

Verizon's push-to-talk feature has more than 100,000 subscribers to date, having been launched quite recently.

Verizon 的一鍵通功能最近才推出，迄今已擁有超過 10 萬名用戶。

In South Korea, number portability will first be applied to [INAUDIBLE] telecom subscribers beginning in January.

在韓國，號碼可攜性將從一月開始首先應用於[聽不清楚]電信用戶。

In preparation, KT Free Tell and LG Telecom are launching new subscription packages and staging national advertising campaigns.

為了做好準備，KT Free Tell 和 LG Telecom 正在推出新的訂閱方案並進行全國性廣告活動。

KT Free Tell, the country's second largest mobile carrier, introduced a program for couples which allows the couple to make unlimited free calls to each other.

該國第二大行動電信商 KT Free Tell 推出了一項針對情侶的計劃，讓情侶無限制地免費互相通話。

We expect that increased competition among carriers to attract and retain subscribers will lead to higher sales of domestic handsets in Korea.

我們預計，營運商之間為吸引和留住用戶而展開的激烈競爭將導致韓國國內手機銷量的成長。

Both SK Telecom and KT Free Tell continue to progress towards the goal of 4 million 1xEVDO subscribers by the end of the year.

SK Telecom 和 KT Free Tell 都在繼續朝著年底前擁有 400 萬 1xEVDO 用戶的目標邁進。

They've achieved about 2.9 million by the end of September with successful and comprehensive video services.

截至 9 月底，他們憑藉成功且全面的視訊服務已獲得約 290 萬用戶。

The experience of Korean operators has shown the value of low cost wireless data.

韓國營運商的經驗已經證明了低成本無線數據的價值。

They are now examining the next evolution of EVDO with the data rate capacity and quality of service improvements specified in revision A of the standard, and included in our MSM 6800 now in development.

他們現在正在研究 EVDO 的下一步發展，包括標準修訂版 A 中指定的數據速率容量和服務品質改進，並包含在我們目前正在開發的 MSM 6800 中。

In Japan, KDDI announced they crossed the 10 million user mark on the 1x network as of October 1.

在日本，KDDI 宣布截至 10 月 1 日，1x 網路用戶突破 1,000 萬大關。

Since launching the 3G network and services in April 2002, KDDI has experienced rapid subscriber growth and established itself as the leader in 3G wireless data service offerings in Japan.

自 2002 年 4 月推出 3G 網路和服務以來，KDDI 經歷了快速的用戶成長，並確立了自己在日本 3G 無線資料服務的領導者地位。

KDDI was the first carrier in the world to deploy a nationwide GPS one position location service and among the first to commercially deploy a unique set of wireless applications which its users download using QUALCOMM's BREW system.

KDDI 是世界上第一家部署全國性 GPS 單位置定位服務的營運商，也是第一家商業部署一套獨特無線應用程式的營運商，用戶可以使用高通公司的 BREW 系統下載這些應用程式。

As Irwin mentioned, KDDI has also announced the launch of its EVDO network.

正如 Irwin 所提到的，KDDI 也宣布推出其 EVDO 網路。

We anticipate they will continue to lead the Japanese market in terms of 3G subscribers.

我們預計他們將繼續在 3G 用戶數量方面領先日本市場。

DELCOMO and Vodafone Japan remain focused on making progress with WCDMA.

DELCOMO 和沃達豐日本仍致力於在 WCDMA 方面取得進展。

September's net additions of 217,000 bring DELCOMO's overall 3G subscriber -- I should say 217,000, right, subscriber base to 1 million and ET DELCOMO announced an upward adjustment in their 3 year projection -- in their year end projection subscribers from 1.46 million to 2 million, with an RPU of over $100 and steady growth of subscribers.

9 月淨增加217,000 戶，使DELCOMO 的整體3G 用戶數量（我應該說是217,000 戶，對，用戶數量達到100 萬），而ET DELCOMO 宣布上調其3 年預測，年終預測用戶數量從146 萬增至200 萬，RPU 超過 100 美元，用戶數穩定成長。

Japan is unarguably moving at a rapid pace to CDMA.

毫無疑問，日本正在快速向 CDMA 邁進。

CDMA activity in Southeast Asia continues to spread.

東南亞的CDMA活動持續蔓延。

An operator in Indonesia launched the CDMA 2000 1x fixed wireless data service in September.

印尼一家營運商於9月推出了CDMA 2000 1x固定無線數據服務。

Another CDMA operator in Indonesia reached the 100,000 subscriber count.

印尼另一家 CDMA 營運商的用戶數量達到了 10 萬。

In Vietnam, ASPHONE is currently adding roughly 2,000 subscribers per week.

在越南，ASPHONE 目前每週增加約 2,000 名訂閱者。

Recently, ARCATEL committed to invest 53 million to develop Malaysia as a 3G CDMA hub for southeast Asia.

最近，ARCATEL承諾投資5,300萬美元將馬來西亞發展成為東南亞的3G CDMA樞紐。

Latin America including the Caribbean is also continuing on its rapid growth phase for CDMA 2000.

拉丁美洲（包括加勒比海地區）也持續處於 CDMA 2000 的快速成長階段。

CDMA 2000 has a very strong presence in Latin America with 29 million users and 23% market share.

CDMA 2000 在拉丁美洲擁有非常強大的影響力，擁有 2,900 萬用戶和 23% 的市佔率。

CDMA 2000 is the most advanced technology deployed in the region, giving operators significant competitive advantage and increased capacity to meet growing demand for voice services as well as high speed data capabilities.

CDMA 2000 是該地區部署的最先進技術，為營運商提供了顯著的競爭優勢和更大的容量，以滿足對語音服務和高速數據功能不斷增長的需求。

Latin America has 28 operators that have deployed or are migrating to CDMA 2000 in key markets such as Brazil, Chile, Columbia, Ecuador, Mexico, Peru and Venezuela.

拉丁美洲有 28 家營運商已經在巴西、智利、哥倫比亞、厄瓜多、墨西哥、秘魯和委內瑞拉等主要市場部署或遷移到 CDMA 2000。

The largest Brazilian operator, VIVO, has now reached 45% market share in Brazil as of the end of September.

截至9月底，巴西最大營運商VIVO在巴西的市佔率已達45%。

VIVO has launched BREW services and introduced color and camera phones to the Brazilian market.

VIVO推出了BREW服務，並向巴西市場推出了彩色和拍照手機。

Bell South International continues its conversion from TDMA to CDMA and has also launched BREW in Columbia.

Bell South International 繼續從 TDMA 向 CDMA 轉換，並在哥倫比亞推出了 BREW。

Bell South International plans to introduce BREW service in eight other properties in Latin America.

Bell South International 計劃在拉丁美洲的其他八家酒店推出 BREW 服務。

Europe continues to be a major focus for us.

歐洲仍然是我們的主要關注點。

WCDMA has been launched by three in several companies while most of the European operators are preparing for launch in 2004, and we are working with them many of them to ensure the launches are as successful as possible.

WCDMA 已由多家公司中的三個推出，而大多數歐洲營運商正準備在 2004 年推出，我們正在與其中許多營運商合作，以確保推出盡可能成功。

Overall then, we've seen substantial net cash inflows from our strategic initiatives this year.

總體而言，我們今年的策略性舉措帶來了大量淨現金流入。

We anticipate that on a go-forward basis, our investments will be more selective and smaller.

我們預計，在未來的基礎上，我們的投資將更有選擇性、規模更小。

We will continue to make investments where they are strategic and offer a good chance for success.

我們將繼續在具有戰略意義的領域進行投資，並提供良好的成功機會。

We continue to support NQUAM and its results in Romania have been quite impressive thus far.

我們將繼續支持 NQUAM，迄今為止在羅馬尼亞取得的成果令人印象深刻。

NQUAM will focus on developing its business in Portugal while continuing to selectively prepare other European markets for CDMA service.

NQUAM 將專注於發展其在葡萄牙的業務，同時繼續選擇性地為其他歐洲市場提供 CDMA 服務。

On September 25th, EMBRATEL entered into an agreement to acquire a phenomenal consideration of the VESPER operating companies from us.

9 月 25 日，EMBRATEL 簽訂了一項協議，以驚人的代價從我們手中收購 VESPER 營運公司。

The closing of the sale of VESPER operating companies to EMBRATEL depends on a number of events remaining to be completed prior to closing, but we are hopeful this will come to closure sometime during fiscal Q1.

將 VESPER 營運公司出售給 EBRATEL 的交易能否完成取決於交易前仍有待完成的一系列事件，但我們希望這將在第一財季的某個時候完成。

We will continue to incur operating losses from the VESPER operation until the anticipated sale closes.

在預期銷售結束之前，我們將繼續因 VESPER 業務而蒙受營運損失。

I will now turn over the call to Paul Jacobs for the QTL and QUALCOMM wireless and Internet update.

我現在將把有關 QTL 和高通無線和網路更新的電話轉給 Paul Jacobs。

Thanks.

謝謝。

Tony.

托尼.

The technology licensing or QTL segment grew revenues by 18% to $1 billion in fiscal 2003.

2003 財年，技術授權或 QTL 部門的收入成長了 18%，達到 10 億美元。

We signed a total of 34 CDMA license agreements during the fiscal year, including 22 new licenses and 2 extensions to existing licenses.

本財年，我們共簽署了 34 份 CDMA 授權協議，其中包括 22 份新許可證和 2 份現有授權延期。

We now have a total of over 120 companies licensed for CDMA worldwide.

目前，全球共有 120 多家公司獲得 CDMA 授權。

The number of manufacturers participating in the worldwide 3G CDMA market also continues to grow.

參與全球3G CDMA市場的製造商數量也持續成長。

As of the end of September, there were 40 subscribers and 15 infrastructure licensees reporting sales of CDMA 2000 1x products and 9 subscriber and 8 infrastructure licensees reporting sales of WCDMA products.

截至9月底，有40個用戶和15個基礎設施持牌人報告了CDMA 2000 1x產品的銷售情況，有9個用戶和8個基礎設施持牌人報告了WCDMA產品的銷售情況。

Based on licensees latest reports, over 10% of the total royalty revenues come from WCDMA.

根據被授權者的最新報告，超過10%的特許權使用費收入來自WCDMA。

Over the past fiscal year, the wireless and Internet group has experienced great success and delivered new and innovative products that enabled CDMA operators to leverage their advanced networks.

在過去的財年中，無線和互聯網集團取得了巨大的成功，並推出了新的創新產品，使 CDMA 營運商能夠利用其先進的網路。

In the wireless and Internet or QWI segment, which consists of QUALCOMM wireless business solutions, or QWBS, QUALCOMM Internet services, QIS, and QUALCOMM digital media, or QDM, revenues were up 26% sequentially and up 31% compared to last year's fourth quarter.

無線和網際網路或 QWI 部門由高通無線業務解決方案（QWBS）、高通網路服務（QIS）和高通數位媒體（QDM）組成，營收季增 26%，與去年第四季相比成長 31% 。

Earnings were up 66% from the previous quarter and went from a loss in the year ago quarter to profitable this quarter.

獲利較上一季成長 66%，本季從去年同期的虧損轉為獲利。

QWI has reported profitable operations for four consecutive quarters.

QWI 已連續四個季度獲利。

Turning to the divisions, in QWBS we shipped approximately 10,100 OmniTRACS units and related products in the fourth fiscal quarter compared to 8,400 in the third quarter and 15,000 in the year ago quarter.

談到各個部門，在 QWBS 中，我們在第四財季出貨了約 10,100 台 OmniTRACS 設備及相關產品，而第三季為 8,400 台，去年同期為 15,000 台。

This brings our 2003 fiscal year total to over 37,500 units shipped and a cumulative total of nearly 489,000 units shipped worldwide.

這使得我們 2003 財年的總出貨量超過 37,500 台，全球累計出貨量接近 489,000 台。

QWBS R&D and business development initiatives continue to play off.

QWBS 研發和業務發展計劃繼續發揮作用。

We launched our GlobalTRACS products with the construction industry, which includes ruggedized hardware, web applications, multimode network connectivity, and over the air application downloading.

我們向建築業推出了 GlobalTRACS 產品，其中包括堅固耐用的硬體、Web 應用程式、多模式網路連接和無線應用程式下載。

There are several evaluations underway at significant construction and rental companies.

重要的建築和租賃公司正在進行多項評估。

We have begun over the road testing of the next generation OmniTRACS, which will provide higher data rates to enable new services.

我們已經開始對下一代 OmniTRACS 進行道路測試，它將提供更高的資料速率來支援新服務。

We formed a consortium for untethered filler tracking with five leading transportation companies.

我們與五家領先的運輸公司組成了一個聯盟，用於不受束縛的填料追蹤。

We continue on our work to make OmniTRACS the de facto standard for munitions and haz mat tracking.

我們繼續努力使 OmniTRACS 成為彈藥和危險墊追蹤的事實上的標準。

With a number of contract awards for testing our solutions and augmenting our existing infrastructure.

我們獲得了多項合約來測試我們的解決方案並增強我們現有的基礎設施。

Also announced together with CardioNet, provider of mobile outpatient heart monitoring technology and services, the CardioNet monitoring service has been enabled with QUALCOMM CDMA technology and wireless networking services.

同時也與行動門診心臟監測技術和服務供應商 CardioNet 共同宣布，CardioNet 監測服務已透過高通 CDMA 技術和無線網路服務實現。

This demonstrates the flexibility and portability of the messaging hub and network management service that we developed and its applicability to other vertical markets.

這證明了我們開發的訊息傳遞中心和網路管理服務的靈活性和可移植性及其對其他垂直市場的適用性。

In Europe we purchased the assets of ALCATEL MOBILCOM OmniTRACS business.

在歐洲，我們購買了 ALCATEL MOBILCOM OmniTRACS 業務的資產。

This will allow us to continue to expand our European base for QWBS and provide a foundation for launching our new products.

這將使我們能夠繼續擴大我們的 QWBS 歐洲基地，並為推出我們的新產品奠定基礎。

In the digital media division, we sold our equity interest in Technicolor Digital Cinema to THOMPSON, the parent company to Technicolor.

在數位媒體部門，我們將 Technicolor Digital Cinema 的股權出售給 THOMPSON（Technicolor 的母公司）。

In doing this, we have positioned ourselves to benefit when the movie industry makes a widespread move to digital cinema.

透過這樣做，我們可以在電影業廣泛轉向數位電影時受益。

We have reduced our ongoing costs by this restructuring, while continuing to work with the industry to promote our technologies.

透過這次重組，我們降低了持續成本，同時繼續與業界合作推廣我們的技術。

This division is focusing its efforts to promote the use of CDMA and other QUALCOMM technologies with the U.S. government.

該部門正致力於與美國政府一起促進 CDMA 和其他高通技術的使用。

Our Internet services division, QIS, continues to realize great success in the adoption of BREW.

我們的網路服務部門 QIS 在 BREW 的採用方面繼續取得巨大成功。

The latest BREW update data as of September is as follows.

截至 9 月的最新 BREW 更新數據如下。

More than 13 million handsets in the market.

市場上有超過 1300 萬支手機。

More than 50 million downloads worldwide.

全球下載量超過 5000 萬次。

More than 90 commercial BREW handset models from 19 commercial device manufacturers.

來自 19 家商業設備製造商的 90 多種商業 BREW 手機型號。

Hand commercial operators experience an average attach rate of nearly 50%.

手工商業經營者的平均附加率接近 50%。

This means that half of all consumers with a BREW enabled handset have interacted with the BREW system.

這意味著擁有支援 BREW 的手機的消費者中有一半已經與 BREW 系統互動。

On the operator side success stories continue.

在營運商方面，成功的故事還在繼續。

Reliance, Telephone, Telephonica, Bell South Panama, Metro PCS, Western Wireless and APBW have all announced their intent to launch BREW services.

Reliance、Telephone、Telephonica、Bell South Panan、Metro PCS、Western Wireless 和 APBW 都已宣布打算推出 BREW 服務。

And in the United States, Verizon Wireless announced the Get It Now BREW-based downloadable ring tones, games and exclusive content grew to 4 million downloads a month.

在美國，Verizon Wireless 宣布基於 Get It Now BREW 的可下載鈴聲、遊戲和獨家內容每月下載量成長至 400 萬次。

2003 has been the year when wireless data truly became a reality.

2003 年是無線資料真正成為現實的一年。

The first incarnation of the wireless Internet was WAP.

無線網際網路的第一個形式是 WAP。

The inclusion of a WAP browser in handsets was a good thing got the industry focused on data.

手機包含 WAP 瀏覽器是一件好事，讓業界開始關注數據。

The problem was consumers found it cumbersome and were therefore unenthusiastic and hesitant to use the technology.

問題是消費者覺得它很麻煩，因此對使用該技術不熱情且猶豫不決。

The other issue was that the parties involved made money primarily from the wireless operators, and unfortunately those operators didn't make money due to a lack of consumer uptake.

另一個問題是，相關各方主要從無線營運商賺錢，不幸的是，這些營運商由於缺乏消費者的認可而沒有賺錢。

BREW is a success because it is a superior technology which enables services that consumers are willing to pay for.

BREW 之所以成功，是因為它是一項卓越的技術，能夠提供消費者願意付費的服務。

It focuses the parties involved in the value chain for wireless application distribution on making money from end users, not each other.

它將無線應用程式分發價值鏈中涉及的各方重點放在從最終用戶而不是彼此身上賺錢。

BREW has provided a simple yet effective way for developers to quickly move applications from inception to revenue generation in the shortest time possible.

BREW 為開發人員提供了一種簡單而有效的方法，使他們能夠在最短的時間內快速將應用程式從啟動階段轉變為創收階段。

Further, the simplicity of BREW enables those operators and their device partners have selected it a time to market advantage over their competitors.

此外，BREW 的簡單性使那些選擇它的營運商及其設備合作夥伴能夠比其競爭對手獲得上市時間優勢。

For the longest time the industry was focused on finding "the" killer application and I don't think any single entity should or eastern could attempt to make the decision.

長期以來，該行業一直專注於尋找“殺手級”應用程序，我認為任何單一實體都不應或東方可以嘗試做出決定。

Rather, BREW has proven that if you provide an environment that is easy for developers, device manufacturers, wireless operators, and most importantly consumers to understand and to take advantage, the killer application is choice.

相反，BREW 已經證明，如果您提供一個易於開發人員、設備製造商、無線運營商以及最重要的消費者理解和利用的環境，那麼殺手級應用程式就是選擇。

The ability for consumers to choose their applications in an open marketplace is indeed the way that many killer applications will emerge.

消費者在開放市場中選擇應用程式的能力確實是許多殺手級應用程式出現的方式。

I would like to share some quotes from key developers and what they've experienced using the BREW system.

我想分享一些主要開發人員的名言以及他們使用 BREW 系統的經驗。

Mitch Lasky, chief executive officer of GEN NET MOBILE, is quoted as saying, "Since the launch of BREW, we've had 4.4 million game downloads to the very substantial number.

GEN NET MOBILE 執行長 Mitch Lasky 表示：「自 BREW 推出以來，我們的遊戲下載量已達到 440 萬次，這是一個非常可觀的數字。

We are very excited about that.

我們對此感到非常興奮。

It's allowed us to create a viable business." 12% of the paid downloads were [INAUDIBLE] We actually have 10 applications that have paid downloads with revenues in excess of $250,000 each.

它使我們能夠創建可行的業務。」12% 的付費下載是 [聽不清楚] 我們實際上有 10 個付費下載的應用程序，每個應用程式的收入超過 250,000 美元。

Another example is from Nick Walker of STEREX. "In terms of success rates, the ability to get an application to a user is better with BREW.

另一個例子來自 STEREX 的 Nick Walker。 「就成功率而言，使用 BREW 向用戶提供應用程式的能力更好。

There is no doubt .

毫無疑問 。

In terms of takeup rates, we're seeing the signs that over the coming months, our commercial success will be better with BREW than with other platforms."

就使用率而言，我們看到有跡象表明，在未來幾個月中，我們使用 BREW 取得的商業成功將比其他平台更好。”

As you can see from these statements, the developers are very enthusiastic and most importantly they are making money by taking advantage of the BREW system.

從這些陳述中可以看出，開發人員非常熱情，最重要的是他們正在利用 BREW 系統賺錢。

The vision QUALCOMM had of a global market marketplace for applications is becoming a reality.

高通公司關於全球應用市場的願景正在成為現實。

We now have developers from South Korea selling applications in the U.S., U.S. based developers selling applications in Brazil, and even European developers selling applications throughout the world.

現在，我們有韓國的開發者在美國銷售應用程序，美國的開發者在巴西銷售應用程序，甚至還有歐洲的開發者在世界各地銷售應用程式。

In Japan, KDDI is expanding the use of the BREW system to serve enterprise customers.

在日本，KDDI 正在擴大 BREW 系統的使用範圍，為企業客戶提供服務。

The same benefits BREW has provided the consumer market are applicable to the enterprise market.

BREW 為消費者市場提供的好處同樣適用於企業市場。

The enterprise customer has a growing need to distribute and manage applications on wireless devices.

企業客戶對在無線設備上分發和管理應用程式的需求日益增長。

We are integrating Snaptrack into QIS beginning in fiscal 2004.

我們將從 2004 財年開始將 Snaptrack 整合到 QIS 中。

This will improve efficiency by allowing us to leverage the resources that we developed to support BREW and QChat across another product area.

這將使我們能夠利用我們開發的資源來支援另一個產品領域的 BREW 和 QChat，從而提高效率。

Even more importantly, it positions us to take advantage of the emerging position location market by insuring that applications are available to the ever increasing number of wireless operators employing GPS 1.

更重要的是，它使我們能夠確保應用程式可供越來越多的使用 GPS 1 的無線營運商使用，從而充分利用新興的定位市場。

Now I will turn the call over to Sanjay Jha, for the [INAUDIBLE] review.

現在我將把電話轉給 Sanjay Jha，進行[聽不清楚]審核。

Thanks, Paul.

謝謝，保羅。

First, I would like to review the results for our fourth fiscal quarter and then discuss some recent developments in our expectations going forward.

首先，我想回顧一下我們第四財季的業績，然後討論我們未來預期的一些最新進展。

During the September quarter, QCT shipped approximately 20 million MSM phone chips equal to the 20 million in the year-ago quarter and down sequentially from 23 million shipped in the June quarter.

在九月季度，QCT 出貨了約 2,000 萬顆 MSM 電話晶片，與去年同期的 2,000 萬顆持平，比六月季度的 2,300 萬顆有所下降。

Of this total, over 98% were 3D CDMA 2000 1x and 1a EVDO chips.

其中，超過 98% 是 3D CDMA 2000 1x 和 1a EVDO 晶片。

We continue to be the largest provider of 3D wireless technology in the world.

我們仍然是全球最大的 3D 無線技術供應商。

For fiscal year 2003, QCT shipped a record 99 million MSM phone chips compared to 65 million phone chips last year, an increase of 34 million phone chips or 52% over fiscal 2002.

2003財年，QCT的MSM電話晶片出貨量達到了創紀錄的9,900萬顆，而去年的手機晶片數量為6,500萬顆，比2002財年增加了3,400萬顆電話晶片，增幅為52%。

Revenues for QCT in the quarter came in at $504 million, up 4$ year-over-year.

QCT 本季營收為 5.04 億美元，年增 4 美元。

Revenues for the full fiscal year showed a growth of 52% over fiscal 2002 to a record $2.4 billion, up $833 million versus last year.

整個財年的營收比 2002 財年成長了 52%，達到創紀錄的 24 億美元，比去年增加了 8.33 億美元。

QCT fiscal year earnings before tax also increased significantly to $797 million up $356 million or 81% greater than fiscal 2002.

QCT 財年的稅前利潤也大幅成長至 7.97 億美元，比 2002 財年增加了 3.56 億美元，成長 81%。

During the fourth quarter, we shipped CSM infrastructure chips supporting 2.5 million equivalent voice channels for 3D CDMA 2000 base stations.

第四季度，我們交付了支援 3D CDMA 2000 基地台 250 萬個等效語音通道的 CSM 基礎設施晶片。

This compares with 2.2 million in the June quarter.

相比之下，六月季度為 220 萬。

The expanding CDMA 2000 1x reliance network in India and the 1xEVDO launches in Japan and U.S. were the primary contributors.

印度不斷擴大的 CDMA 2000 1x 依賴網路以及日本和美國推出的 1xEVDO 是主要貢獻者。

In the September quarter, we continued to see higher demands across our fully segmented line of MSM 6000 family of chip sets from an expanding base of handset customers for our CDMA 2000 solutions.

在九月季度，我們繼續看到不斷擴大的手機客戶群對我們的 CDMA 2000 解決方案對我們完全細分的 MSM 6000 系列晶片組產品線提出了更高的需求。

There are a number of milestones I would like to highlight.

我想強調一些里程碑。

In July we sampled on time MSM 6025 chips for entry-level handsets.

7 月份，我們按時為入門級手機提供了 MSM 6025 晶片樣品。

During the quarter, we gained five new customer for this solution to support a number of new devices for emerging markets such as China, Latin America and India.

本季度，我們的解決方案獲得了五個新客戶，以支援中國、拉丁美洲和印度等新興市場的許多新設備。

We have increased our customer base significantly for MSM 6050 chip sets which includes integrated GPS 1 position location base capabilities.

我們顯著增加了 MSM 6050 晶片組的客戶群，其中包括整合的 GPS 1 位置定位基礎功能。

As of September quarter, we are working with more than 20 manufacturers to support an excess of more than 50 separate new handset and data card designs based on 6050.

截至 9 月季度，我們正在與 20 多家製造商合作，支援超過 50 種基於 6050 的獨立新手機和數據卡設計。

We expect more than 20 of these designs to be shipping in volume by year end.

我們預計其中 20 多種設計將在年底前批量發貨。

The industry's first MSM 6100 based high tier handset, the Toshiba A5501T has now launched in Japan for KDDI, and we expect additional 6100 base phones to be shipping in Japan, the U.S. and Korea by the end of the year.

業界首款以 MSM 6100 為基礎的高階手機東芝 A5501T 現已在日本推出 KDDI，我們預計今年底將有更多 6100 基本手機在日本、美國和韓國出貨。

1xEVDO continues to attract strong interest from enterprise markets as well as consumers interested in streaming video.

1xEVDO 繼續吸引企業市場以及對串流影片感興趣的消費者的強烈興趣。

Growth of the EBDO subscriber base is on track to reach 4 million by the end of 2003.

到 2003 年底，EBDO 用戶群的成長預計將達到 400 萬。

During the September quarter, Verizon launched DO service in San Diego and Washington.

在九月季度，Verizon 在聖地牙哥和華盛頓推出了 DO 服務。

In Japan KDDI has confirmed its plans to launch DO before the end of the year.

在日本，KDDI 已確認計劃在年底前推出 DO。

To date, all DO handsets and data cards are based on the MSM 5500 chip set.

迄今為止，所有 DO 手機和數據卡均基於 MSM 5500 晶片組。

However, we expect to see new MSM 6500 base devices for multiple customers to be shipping in spring of 2004.

不過，我們預計將於 2004 年春季為多個客戶推出新的 MSM 6500 基本設備。

We are also very pleased with the recent progress to help our customers prepare for wide band CDMA launches in the coming year.

我們對最近在幫助客戶為來年推出寬頻 CDMA 做好準備方面取得的進展也感到非常高興。

In the September quarter, we continued to expand our intraoperability testing with carriers in Europe, Asia and U.S. using our wide band CDMA test mobile.

在九月季度，我們繼續使用寬頻 CDMA 測試手機擴大與歐洲、亞洲和美國營運商的內部操作性測試。

We are providing our customers with significant competitive advantage by being the first company to achieve voice circuit and socket data interoperability with all wide band CDMA infrastructure vendors.

作為第一家與所有寬頻 CDMA 基礎設施供應商實現語音電路和套接字資料互通性的公司，我們為客戶提供了顯著的競爭優勢。

In July we sampled on time the MSM 6250, our fully integrated GPS 1 chip set supporting wide band CDMA GSM and we continue to support the Japanese Vodaphone KK with the volume production of MSM 6200 for Sanyo.

7月，我們按時提供了MSM 6250樣品，這是我們支援寬頻CDMA GSM的全集成GPS 1晶片組，我們繼續為日本Vodaphone KK提供支持，為三洋批量生產MSM 6200。

During the September quarter, our MSM 6200 and MSM 6250 chips continued to attract new customers.

在九月季度，我們的 MSM 6200 和 MSM 6250 晶片繼續吸引新客戶。

To date, we have confirmed more than ten manufacturers from China and Europe, Japan, South Korea, Taiwan and United States to support wide band CDMA launches worldwide.

迄今為止，我們已確認十多家來自中國以及歐洲、日本、韓國、台灣和美國的製造商支援全球寬頻CDMA的推出。

Our emphasis on integration and our launch pad application strategy continues to record new milestones and gain traction with customers seeking cost effective 3D solutions.

我們對整合的重視以及我們的發射台應用策略不斷創下新的里程碑，並吸引了尋求具有成本效益的 3D 解決方案的客戶。

Supporting the growing demand for location based services, there are now more than 15 million GPS 1 enabled devices in commercial use in Japan, South Korea, and the United States.

為了滿足對基於位置的服務不斷增長的需求，目前日本、韓國和美國有超過 1500 萬台啟用 GPS 1 的設備投入商業使用。

MSM 6100 based handsets that are arriving this fall will be the first to utilize our integrated video implementation that enables hand mobile devices to stream, download and play back multimedia content at 15 sets per second without adding an external cold processor.

今年秋季上市的基於 MSM 6100 的手機將率先採用我們的整合視訊實現，使手持行動裝置能夠以每秒 15 組的速度串流、下載和播放多媒體內容，而無需添加外部冷處理器。

During the September quarter, we announced a number of important new products that extend the MSM 6000 family segmentation strategy.

在九月季度，我們發布了一系列重要的新產品，擴展了 MSM 6000 系列細分策略。

We announced the CSM and MSM 6800 solution end-to-end solution.

我們發布了 CSM 和 MSM 6800 解決方案端到端解決方案。

The 6800 is QUALCOMM's fourth generation DO solution and integrates CDMA 2000 1xEVDO release A with six pieces of 2.1 megabits per second and simultaneous GPS.

6800 是高通的第四代 DO 解決方案，整合了 CDMA 2000 1xEVDO Release A、6 個每秒 2.1 兆位元和同步 GPS。

We also announced new highly integrated solutions for CDMA 2000 1x and 1xEVDO.

我們也發表了針對 CDMA 2000 1x 和 1xEVDO 的全新高度整合解決方案。

The MSM 6150 and MSM 6550 chips address global market requirements for high quality video and graphic performance in wireless devices.

MSM 6150 和 MSM 6550 晶片可滿足全球市場對無線設備中高品質視訊和圖形性能的要求。

Looking forward, we now have increased visibility into the December quarter and expect to ship between 27 to 28 million MSMs driven by increased demand across all of our 3D solutions.

展望未來，我們現在對 12 月季度的了解有所增加，由於我們所有 3D 解決方案的需求增加，預計將出貨 27 至 2800 萬個 MSM。

I will now turn the call over to Bill Keitel for the financial overview.

我現在將把電話轉給比爾凱特爾，以了解財務概況。

Thanks, Sanjay, good afternoon, everyone.

謝謝桑傑，大家下午好。

We're very pleased that fiscal 2003 not only exceeded our expectations.

我們非常高興 2003 財年不僅超出了我們的預期。

It achieved record revenues, record net income, record earnings per share and record operating cash flow.

它實現了創紀錄的收入、創紀錄的淨利潤、創紀錄的每股收益和創紀錄的營運現金流。

I'll start with the QUALCOMM strategic initiatives segment.

我將從高通戰略計劃部分開始。

QSI reported the loss before tax of $42 million for the quarter including a $28 million loss related to the VESPER businesses and a $14 million loss related to our share of INQUAM.

QSI 報告本季稅前虧損為 4,200 萬美元，其中包括與 VESPER 業務相關的 2,800 萬美元虧損和與我們所持 INQUAM 股份相關的 1,400 萬美元虧損。

For the quarter QSI's net realized investment gains of more than $30 million were offset by realized and unrealized investment losses.

本季 QSI 已實現的淨投資收益超過 3,000 萬美元，但被已實現和未實現的投資損失所抵消。

During fiscal 2003, QSI generated net cash of $634 million as we decreased our rate of new investments and monetized a portion of the prior investments.

2003 財年，隨著我們降低新投資率並將部分先前投資貨幣化，QSI 產生了 6.34 億美元的淨現金。

Turning to core businesses, revenues excluding QSI for the September quarter were $870 million, down 2% sequentially and up 4% year-over-year.

談到核心業務，9 月季度不包括 QSI 的營收為 8.7 億美元，季減 2%，年增 4%。

Earnings per share were 29 cents, down 12% sequentially and down 6% year-over-year.

每股收益為 29 美分，季減 12%，年減 6%。

For fiscal year 2003, revenues excluding QSI were $3.8 billion, up 32% year-over-year.

2003 財年，不包括 QSI 的營收為 38 億美元，年增 32%。

Net income was $1.2 billion, up 46%, and earnings per share were $1.42, up 45% over fiscal 2002.

淨利潤為 12 億美元，比 2002 財年增長 46%，每股收益為 1.42 美元，比 2002 財年增長 45%。

Fourth quarter revenues for our chip business, or QCT, were $504 million for the fourth quarter, 4% higher year-over-year and 9% lower sequentially.

我們的晶片業務（QCT）第四季營收為 5.04 億美元，年增 4%，季減 9%。

QCT earnings before tax were $122 million in the quarter with an operating margin of 24%.

QCT 本季稅前利潤為 1.22 億美元，營業利益率為 24%。

QCT's operating margin was sequentially lower in the September quarter due to planned increases in R&D and the expected lower sales volume.

由於研發計劃的增加和預期銷量的下降，QCT 的營業利潤率在 9 月季度連續下降。

For the full fiscal year, QCT delivered record revenues of $2.4 billion and operating margin of 33%.

在整個財年，QCT 實現了創紀錄的 24 億美元收入和 33% 的營業利潤率。

QTL, our licensing business, reported fourth quarter revenues and earnings before tax of $242 million and $213 million respectively.

我們的授權業務 QTL 報告第四季收入和稅前利潤分別為 2.42 億美元和 2.13 億美元。

QTL's operating margin in the fourth quarter was 88%.

QTL第四季的營業利益率為88%。

For the full fiscal year, QTL achieved records of $1 billion in revenues and $897 million in earnings before tax, representing 18% and 19% growth year-over-year respectively.

整個財年，QTL 實現營收 10 億美元和稅前利潤 8.97 億美元的紀錄，年比分別成長 18% 和 19%。

Based on royalty reports received, CDMA handset shipped worldwide for the June quarter were approximately 23 million units.

根據收到的專利費報告，第二季 CDMA 手機全球出貨量約 2,300 萬支。

The average selling price of CDMA phones for the June quarter increased sequentially to approximately $193 per phone.

6 月季度 CDMA 手機的平均售價連續上漲至每支手機約 193 美元。

And royalties on CDMA infrastructure sales exceeded our expectations.

CDMA 基礎設施銷售的特許權使用費超出了我們的預期。

We estimate approximately 26 million CDMA and WCDMA handsets were shipped worldwide in the September quarter.

我們估計 9 月所在季度全球 CDMA 和 WCDMA 手機出貨量約為 2,600 萬支。

As we previously reported, QTL royalty revenue is earned in the quarter in which licensees sell their products, even though licensees report royalties to the company one quarter in arrears.

正如我們之前報導的，QTL 特許權使用費收入是在被許可人銷售其產品的季度獲得的，儘管被許可人向公司報告的特許權使用費拖欠了四分之一。

Royalty revenues from licensees were $207 million in the fourth quarter, which includes $19 million of royalty revenue earned, which is the difference between our accrual estimate of $135 million for the June quarter and the $154 million in actual royalties reported by our licensees in the September quarter.

Royalty revenues from licensees were $207 million in the fourth quarter, which includes $19 million of royalty revenue earned, which is the difference between our accrual estimate of $135 million for the June quarter and the $154 million in actual royalties reported by our licensees in the September四分之一.

Our royalty accrual estimate for September quarter shipments is $151 million.

我們對 9 月季度出貨量的應計特許權使用費預計為 1.51 億美元。

For the September quarter, we expect a sequential decrease of 7% for CDMA handset average selling prices.

對於第二季度，我們預計 CDMA 手機平均售價將較上季下降 7%。

We estimate a 2% decline in the weighted average CDMA handset ASP for fiscal 2003 as compared to fiscal 2002.

我們估計 2003 財年 CDMA 手機加權平均售價比 2002 財年下降 2%。

QUALCOMM wireless and Internet, QWI, reported revenues of $143 million in the September quarter, up 26% sequentially and up 31% year-over-year.

高通無線和網路公司 (QWI) 公佈第二季營收為 1.43 億美元，季增 26%，年增 31%。

QWI earnings before tax were $11 million in the September quarter.

QWI 9 月季度的稅前利潤為 1,100 萬美元。

Cash flow continues to be strong.

現金流持續強勁。

Cash, cash equivalents and marketable securities totaled approximately $5.4 billion at the end of September, an increase of approximately $400 million in the quarter and $2.2 billion in the fiscal year.

截至9月底，現金、現金等價物及有價證券總計約54億美元，本季增加約4億美元，本財年增加約22億美元。

We have paid out $135 million in dividends and invested $158 million in net stock repurchases.

我們已支付 1.35 億美元的股息，並投資 1.58 億美元用於淨股票回購。

Our GAAP effective tax rate for fiscal 2003 is approximately 36%, down from our prior estimate of 45% primarily due to the write-off for U.S. tax purposes of certain foreign investments.

我們 2003 財年的 GAAP 有效稅率約為 36%，低於我們先前估計的 45%，這主要是由於出於美國稅收目的而沖銷了某些外國投資。

The change in the estimated 2003 effective tax rate from 45% used in the first nine months results in an effective tax rate of 6% in the fourth quarter of fiscal 2003.

2003 年前 9 個月的估計有效稅率為 45%，2003 財年第四季的有效稅率為 6%。

Excluding QSI, our estimated fiscal 2003 effective tax rate is 33%, which is unchanged from last quarter.

不包括 QSI，我們估計 2003 財年有效稅率為 33%，與上季持平。

I now will provide our guidance for 2004 for the December quarter and full fiscal year.

我現在將提供 2004 年 12 月季度和整個財政年度的指導。

Visibility for the December quarter is very good.

十二月季度的能見度非​​常好。

We expect to ship approximately 27 to 28 million MSN phone chips, a sequential increase of 35 to 40%.

我們預計 MSN 電話晶片出貨量約為 27 至 2800 萬個，將比去年同期成長 35% 至 40%。

We anticipate the December revenues excluding QSI will increase sequentially by approximately 16 to 22%, which equals a decrease of 1 to 6% year-over-year.

我們預計，不包括 QSI 的 12 月營收將季增約 16% 至 22%，相當於年減 1% 至 6%。

We anticipate that range per share excluding QSI will be approximately 37 to 40 cents.

我們預計，不包括 QSI 的每股收益範圍約為 37 至 40 美分。

For the full year -- for the full year calendar 2003 we expect approximately 106 to 108 million CDMA handsets to be shipped, which includes approximately 4 million WCDMA handsets.

對於全年——2003 年全年，我們預計 CDMA 手機的出貨量約為 106 至 1.08 億部，其中包括約 400 萬部 WCDMA 手機。

Based upon the 107 million mid-point of this estimate, calendar 2003 CDMA worldwide handset shipments will increase by approximately 23% year-over-year.

根據這項估計的中位數 1.07 億部，2003 年全球 CDMA 手機出貨量將年增約 23%。

We believe worldwide CDMA channel inventories at the end of September were largely in line with what CDMA carriers consider normal which was consistent with our earlier projections.

我們認為 9 月底的全球 CDMA 頻道庫存基本上符合 CDMA 業者認為的正常情況，這與我們先前的預測一致。

As for VESPER, you will recall in prior quarter we disclosed a charge of approximately $49 million would be incurred for cumulative foreign currency translation adjustment, or CTA, when we completed exit of the VESPER business.

至於 VESPER，您會記得在上一季度，當我們完成退出 VESPER 業務時，我們披露了累積外幣換算調整（CTA）將產生約 4900 萬美元的費用。

If we exit VESPER this quarter per our plan, we now estimate a somewhat lower charge in the range of 35 to $45 million, and this charge is primarily for CTA.

如果我們按照計劃在本季度退出 VESPER，我們現在估計費用會稍低一些，在 35 至 4500 萬美元之間，而這筆費用主要用於 CTA。

And now for fiscal 2004 guidance.

現在是 2004 財年的指導。

We estimate calendar 2004 CDMA phone shipments to grow approximately 20-28% to a range of 131 to 136 million units, including an estimate of approximately 15 million WCDMA phones.

我們預計 2004 年 CDMA 手機出貨量將成長約 20-28%，達到 131 至 1.36 億部，其中包括約 1,500 萬支 WCDMA 手機。

We anticipate revenues excluding QSI will increase for the full fiscal year by approximately 5 to 9%.

我們預計整個財年（不包括 QSI）的營收將成長約 5% 至 9%。

We anticipate that earnings per share excluding QSI will be in the range of is $1.37 to $1.43.

我們預計，不包括 QSI 的每股盈餘將在 1.37 美元至 1.43 美元之間。

For 2004, we are expecting our core businesses to have a lower rate of growth relative to the CDMA market due to increased competition and because we are estimating a decrease of approximately 8% in average selling prices for CDMA handset in fiscal 2004.

2004 年，由於競爭加劇，我們預計 2004 財年 CDMA 手機的平均銷售價格將下降約 8%，我們預計我們的核心業務的成長率將低於 CDMA 市場。

For fiscal 2004 we anticipate that R&D and SG&A expenses combined will increase approximately 18 to 20% year-over-year due primarily to new product development for the expanding market for CDMA 2000 and WCDMA multi-mode, multi-band and multi-network products and services.

我們預計2004 財年的研發和銷售、一般行政費用合計將同比增長約18% 至20%，這主要是由於針對CDMA 2000 和WCDMA 多模、多頻段和多網絡產品不斷擴大的市場而進行的新產品開發和服務。

We continue to focus upon carefully managing new investments.

我們繼續專注於謹慎管理新投資。

We anticipate a net investment in QSI of approximately $250 million in fiscal 2004.

我們預計 2004 財年 QSI 的淨投資約為 2.5 億美元。

This is significantly less than the average of prior years.

這明顯低於前幾年的平均值。

We anticipate QSI to record a loss of 20 cents per share for fiscal 2004.

我們預期 QSI 2004 財年每股虧損 20 美分。

We expect the majority of this loss, 12 cents per share, to occur in the first fiscal quarter consistent with our plan to exit VESPER.

我們預計大部分虧損（每股 12 美分）將發生在第一個財季，這與我們退出 VESPER 的計畫一致。

We expect the tax rate on core operations to decrease to 32% from 33% in fiscal 2003.

我們預計核心業務的稅率將從 2003 財年的 33% 降至 32%。

We expect the GAAP tax rate to decrease to 35% from 36% in fiscal 2003.

我們預計 2003 財年的 GAAP 稅率將從 36% 降至 35%。

I look forward to sharing with you more data points regarding our fiscal 2004 guidance next week at our analyst meeting in London, which will be webcast for those of you not able to attend.

我期待著下週在倫敦舉行的分析師會議上與您分享有關 2004 財年指導的更多數據點，此次會議將為那些無法參加的人士進行網路直播。

That concludes our remarks.

我們的發言到此結束。

Operator, we're ready for questions.

接線員，我們準備好回答問題了。

Thank you, ladies and gentlemen, we will now begin the question-and-answer session.

謝謝各位，女士們、先生們，我們現在開始問答環節。

To queue a question press the one four.

若要對問題進行排隊，請按一四。

To retract a question press the one three.

若要撤回問題，請按一三。

If you are using a speaker phone, please pick up your handset before pressing the numbers.

如果您使用免持電話，請在按號碼前拿起聽筒。

Limit the questions to one per participant and one moment, please for the first question.

將問題限制在每位參與者一個時間內，請回答第一個問題。

The first question comes from the line of Christian Amacost with SG Cowen.

第一個問題來自 Christian Amacost 和 SG Cowen 的對話。

Please go ahead with your question.

請繼續你的問題。

I wanted to ask you a question about QCT margins.

我想問你一個關於 QCT 利潤的問題。

You have been investing heavily which has had an impact.

您一直在大力投資，這已經產生了影響。

At what point did do you think that can roll off into fiscal '04 and is it possible to maintain an overall QCT margin in '04 of around 30%?

您認為何時可以延續到 04 財年？是否有可能將 04 財年的整體 QCT 利潤率維持在 30% 左右？

We have provided guidance as you rightly state that we continue to invest very heavily in the R&D and that investment currently is going into UMTS, DO development, DV developments, multimedia application and microprocessors and development.

我們已經提供了指導，正如您正確指出的那樣，我們繼續在研發方面投入大量資金，目前的投資正在進入 UMTS、DO 開發、DV 開發、多媒體應用和微處理器及開發。

We expect to continue to invest heavily through 2004.

我們預計 2004 年將繼續大力投資。

In terms of operating margin, we see a sequential increase next quarter in our operating margin.

就營業利潤率而言，我們預計下個季度的營業利潤率將較上季成長。

Our operating margin is driven by a number of factors that a topline growth product mix, our R&D expenditures and tax rates and as we -- and much of these factors of some of them increase the operating profits and some of them reduce it and we don't typically provide guidance for the full-year operating margin but next quarter we expect sequentially up operating margin.

我們的營業利潤率是由多種因素驅動的，這些因素包括營收成長的產品組合、我們的研發支出和稅率，並且我們——其中許多因素中的一些因素增加了營業利潤，而另一些因素則減少了營業利潤，我們不這樣做通常不會為全年營業利潤率提供指導，但我們預計下個季度營業利潤率將連續上升。

Thank you.

謝謝。

Our next question comes from the line of Edward Schneider from Charter Equity Research.

我們的下一個問題來自 Charter Equity Research 的 Edward Schneider。

Please go ahead with your question.

請繼續你的問題。

Obviously one of the uptakes this year is Nokia has the CDMA phone out in the U.S. and seems to be doing well and do you have any estimate on the expansion of your market share in the U.S. for CDMA that is incremental phones you might be selling now because you have more low end phones available than you had been previously?

顯然，今年的亮點之一是諾基亞在美國推出了 CDMA 手機，而且似乎表現不錯，您對 CDMA 在美國市場份額的擴張（您現在可能正在銷售的增量手機）有什麼估計嗎？因為你們有比以前更多的低階手機？

See an expense in your market due to that and how big would you suggest that would be?

看到您的市場因此而產生的費用，您認為該費用有多大？

Well, if I understand your question, Ed, you are saying the availability of low-end phones driving increase in the market.

好吧，如果我理解你的問題，艾德，你是說低階手機的可用性推動了市場的成長。

A thing we would absolutely say yes, we would also say that the Nokia is just one of many players in that segment of the market.

我們絕對會說是的，我們也會說諾基亞只是該市場領域的眾多參與者之一。

And we would say that it is probably a more important factor in other markets outside of the U.S. rather than the U.S.

我們會說，這可能是美國以外其他市場比美國更重要的因素。

But if you take it on the global basis particularly in developing markets like India and Latin America definitely the available of lower priced handset is driving the market in those places.

但如果你把它放在全球範圍內，特別是在印度和拉丁美洲等發展中市場，毫無疑問，低價手機的出現正在推動這些地方的市場。

Our next question comes from the line of John Biewker with Harris Nesbitt.

我們的下一個問題來自約翰·比克 (John Biewker) 和哈里斯·內斯比特 (Harris Nesbitt) 的對話。

Please go ahead with your question.

請繼續你的問題。

I was wondering if Sanjay could provide a rough estimate of the mix he is expecting of direct conversion products as a percentage of the total chip set shipments in the first half and the second half?

我想知道Sanjay能否粗略估計一下他所期望的直接轉換產品佔上半年和下半年晶片組總出貨量的百分比？

And then separately, the mix of high-end and multimedia capable chip sets also.

然後，也分別混合了高階和多媒體晶片組。

Thank you.

謝謝。

Well, as a result of growth in the emerging marketplaces that Tony was talking about driven by China India and Latin America we certainly see a higher growth in the lower end chip sets and we is have addressed that marketplace with MSM 6000, 6025 and 6050 and all of those are zip products and enable a cost effective solution for our customer.s Additional any in higher end 6100 and 6500 in the CDMA 2000 and 6250 and 6200 in UMTS offer higher feature sets and higher ASP product to the marketplace to enable much higher data rates for the end device.

好吧，由於托尼談到的由中國、印度和拉丁美洲推動的新興市場的增長，我們當然會看到低端晶片組的更高增長，我們已經通過MSM 6000、6025 和6050 滿足了該市場的需求，所有這些都是zip 產品，可為我們的客戶提供具有成本效益的解決方案。CDMA 2000 中的高端6100 和6500 以及UMTS 中​​的6250 和6200 的其他產品向市場提供更高的功能集和更高的ASP 產品，以實現更高的效能終端設備的資料速率。

The mix of the devices varies from quarter to quarter and typically we have not provided a guidance on that.

設備的組合因季度而異，通常我們不會提供相關指導。

We -- see -- we believe that the as a result of this and the tax rate which increases as this takes greater percentage of our market share we will see a very flat to slight decline in our ASP next year.

我們認為，由於這一點以及稅率的增加，因為這佔據了我們市場份額的更大比例，我們明年的平均售價將會非常平穩甚至略有下降。

Our next question comes from the line of Brian Modoff with Deutsche Banc Securities.

我們的下一個問題來自德意志銀行證券公司的布萊恩‧莫多夫 (Brian Modoff)。

Please go ahead with your question.

請繼續你的問題。

Can you give us a breakdown in terms of your shipments by region in terms of CDMA in Q4 and then CDMA and WCDMA in 2004 and also can you tell who you are assuming your market share will be in both in those time frames?

您能否向我們詳細介紹一下您在第四季度CDMA 以及2004 年CDMA 和WCDMA 上按地區劃分的出貨量？您能否告訴我們您假設在這兩個時間範圍內您的市場份額將屬於誰？

All right, Brian, Bill Keitel.

好吧，布萊恩，比爾凱特爾。

I'll take a -- stab at that.

我會對此進行嘗試。

Market share by region what was accelerating and what we were expecting to accelerate in the fourth quarter what Q3 notice in the June quarter was that new phone shipments being recorded going to India and China dropped off quite substantially.

按地區劃分的市場份額正在加速，我們預計第四季度將加速，第三季注意到，印度和中國的新手機出貨量大幅下降。

So, one reason behind the 7% ASP decline indicated is built in our estimate for the September quarter is because we expect the India and China to accelerate quite significantly in September.

因此，我們對 9 月季度的預測顯示平均售價下降 7% 背後的原因之一是我們預計印度和中國在 9 月將大幅成長。

But I would add that with the strengths that a number of North American CDMA operators are showing that we expect that market to increase as well.

但我想補充一點，隨著一些北美 CDMA 營運商所展現的實力，我們預計該市場也會成長。

And so on -- so it is a bit mixed as to what market we're seeing the visibility on.

等等——所以我們在哪個市場上看到的可見度有點複雜。

But certainly India and China we expect to accelerate pretty significantly in September.

但我們預計印度和中國在 9 月的成長將顯著加快。

As for next year, Brian, I do expect that we will give a regional breakdown in London next week.

至於明年，布萊恩，我確實希望我們下週將在倫敦提供區域細分。

For our 2004 estimate.

對於我們 2004 年的估計。

And so hopefully we will have enough detail there to satisfy everybody.

希望我們能提供足夠的細節來滿足每個人的需求。

Our next question comes from the line of Tim Long with Bank of America, please go ahead with your question.

我們的下一個問題來自美國銀行的 Tim Long，請繼續提問。

Thank you.

謝謝。

Could you just touch on China for a minute?

能簡單談談中國嗎？

It looks like you tweaked in our estimates a little bit for this year at least.

看來您至少對今年的預測做了一些調整。

Could you give us a sense what you think is going on there?

您能否告訴我們您認為那裡發生了什麼事？

Was it a problem on the net add side or maybe multiple RUIMs or over ordering or inventory situation and do you think that might carry into 2004 for that important growth region?

是淨增加方面的問題還是多個RUIM 或過度訂購或庫存情況的問題？您認為對於那個重要的增長區域來說這可能會延續到2004 年嗎？

Thanks.

謝謝。

Well of course China had its problems with SARS earlier and also the introduction of the CDMA 2000 1x network and things are going ahead rather well China right now.

當然，中國早些時候也遇到了 SARS 的問題，並且引入了 CDMA 2000 1x 網絡，現在中國的情況進展得相當順利。

But in two other areas in China Unicom the case of 450 currently has been pretty much stopped other than in Tibet by the government.

但在中國聯通的另外兩個地區，除西藏以外，450 的案件目前已基本被政府制止。

And the decisions on WCDMA or CDMA 2000, that is or TDS CDMA that is the 3G decision at 2.1 gigahertz appears to be postponed sometime into the year or possibly out of even beyond that year.

關於 WCDMA 或 CDMA 2000（即 2.1 GHz 3G 的 TDS CDMA）的決定似乎會推遲到今年的某個時候，甚至可能推遲到當年之後。

And so we have taken some of those numbers out of our estimates looking forward.

因此，我們從我們的未來預測中剔除了其中一些數字。

However, I think China will continue to be a very good market for CDMA, China Unicom will now be pressing hard to take advantage of its greatly improved network and now with the introduction of prepaid, span all aspects of the market.

然而，我認為中國仍將是一個非常好的CDMA市場，中國聯通現在將努力利用其大大改進的網絡，現在隨著預付費的推出，跨越市場的各個方面。

Other next question comes from the line of Tim Luke with Lehman Brothers.

下一個問題來自蒂姆·盧克與雷曼兄弟的關係。

Please go ahead with your question.

請繼續你的問題。

Thanks.

謝謝。

You touched on some areas having inventory shortages.

您提到了一些存在庫存短缺的領域。

I was just wondering with whether you could sort of clarify where you seen that and just get on back to you the notion of the timeline for the licenses in India or kind of -- I'm sorry in China, where do you see it does look like there has been some delay or exceptional delay in the past few weeks and for, Sanjay, I think you talked about the 50% share in WCDMA and it is that a number we should be using?

我只是想知道你是否可以澄清一下你在哪裡看到了這一點，然後給你回複印度許可證的時間表的概念或者某種 - 我很抱歉在中國，你在哪裡看到它確實如此看起來過去幾週出現了一些延遲或異常延遲，Sanjay，我想您談到了WCDMA 的50% 份額，這是我們應該使用的數字嗎？

One of the problems on inventory shortages actually had to do with a desire to increase the number of entry level handset and there were component shortages, flash memory, other areas, that prevented the totals from getting to the point that were desired in either -- if both India and China so hopefully those get worked through and quantities will in fact meet the requirements but there have been some difficulties on both sides of that.

庫存短缺的問題之一實際上與增加入門級手機數量的願望有關，並且存在組件短缺、閃存和其他領域的問題，這阻礙了總數達到所期望的水平——如果印度和中國都希望這些能夠得到解決，數量實際上會滿足要求，但雙方都遇到了一些困難。

On the UMTS market share we have certainly been very successful so far in being able to attract both our traditional customers and new customers to our solution and in terms of market share I would certainly set a very aggressive target for us and we as an organization of shooting for that target and we think we a good chance of making that market share so time will tell you how successful we are.

在UMTS 市佔率方面，到目前為止，我們確實非常成功，能夠吸引我們的傳統客戶和新客戶使用我們的解決方案，就市場佔有率而言，我肯定會為我們和我們作為一個組織設定一個非常正面的目標。朝著這個目標努力，我們認為我們很有機會獲得這個市場份額，所以時間會告訴你我們有多成功。

I would just add Tim, that when we say that at moment we are excluding DELCOMO because we are not on the standard yet so you wouldn't expect for us to achieve 50% in 2004 of the overall WCDMA market but in the longer term is where we are talking.

我想補充一點，提姆，當我們說目前我們排除 DELCOMO 的時候，因為我們還沒有達到標準，所以你不會指望我們在 2004 年達到整個 WCDMA 市場的 50%，但從長遠來看我們正在談論的地方。

And then there was a question on licensing in China?

然後還有一個關於中國許可的問題？

What is the status of the 3G licenses.

3G牌照的狀況如何？

The licenses in China as I touched on briefly appear to be a decision appear to be delayed as far as China Telecom, Net Com, other licenses at 2.1 gigahertz.

正如我簡要提​​到的，中國的牌照似乎是一個決定，就中國電信、網通和其他 2.1 GHz 牌照而言，似乎被推遲了。

There are tests that are starting up of field tests and those will take some time.

有些測試正在啟動現場測試，這需要一些時間。

There are various controversies within country as to whether to wait for TDS CDMA, whether to go ahead with WCDMA or CDMA 2000.

對於是否等待TDS CDMA、是否繼續WCDMA或CDMA 2000，國內存在各種爭議。

Since they have two nationwide networks at this point both growing, those carriers are also indicating go slow.

由於他們目前擁有兩個全國性的網絡，並且都在成長，因此這些營運商也表示進展緩慢。

The other side of the coin manufacturers are saying we're ready to go and let's get the licenses.

硬幣的另一面製造商表示我們已經準備好，讓我們獲得許可證。

I think there will be some delay.

我認為會有一些延遲。

Our current feeling is at the least mid-year and possibly longer.

我們目前的感覺至少是年中，甚至可能更長。

The following question comes from the line of Wojtek Uzdelewicz with Bear Stearns.

以下問題來自 Wojtek Uzdelewicz 與貝爾斯登的對話。

Please go ahead with your question.

請繼續你的問題。

Your line is now open, please go ahead with your question.

您的線路現已開通，請繼續提出您的問題。

We'll proceed with Jeffrey Schlesinger with UBS Warburg.

我們將繼續採訪瑞銀華寶 (UBS Warburg) 的 Jeffrey Schlesinger。

Please go ahead with your question.

請繼續你的問題。

Thank you.

謝謝。

Question for Bill.

向比爾提問。

On the QWI businesses revenues were up strong sequentially and I guess some of that came out of the EITF but the margin for pretax profit was only up 5 million sequentially.

QWI 業務的收入連續強勁增長，我猜其中一部分來自 EITF，但稅前利潤率僅連續增長 500 萬美元。

What off set that EITF of 11 million growth profit you picked up in the quarter and followup with Sanjay.

是什麼抵消了您在本季和 Sanjay 的後續行動中獲得的 1,100 萬成長利潤的 EITF？

Bill gave guidance of 18-20% of op ex growth for the company next year and would you expect your op ex-to go faster than total given the heavy investment you cited and give us a range for the chip business.

比爾給出了公司明年營運支出成長 18-20% 的指導，考慮到您提到的巨額投資並給我們提供了晶片業務的範圍，您是否期望您的營運支出成長速度快於總體。

And lastly Irwin you have been talking about china and when do you expect licenses to be issued now versus when did you actually expect them to be issued before.

最後，歐文，您一直在談論中國，您預計現在何時發放許可證，而您之前實際上預計何時發放許可證。

I'm going to address the QWD issues we had benefit from IEEITF but increased R&D and a small amount of bad debt and those returns and allowances and a small amount of FX, currency foreign exchange stuff and then Q3 some deferred sales that we were able to book.

我將解決 QWD 問題，我們從 IEEITF 中受益，但增加了研發和少量壞帳以及這些回報和津貼以及少量外匯、貨幣外匯物品，然後是第三季度我們能夠實現的一些延期銷售預訂。

So that was really the big changes.

這確實是一個巨大的改變。

The Op Ex for QCT as I was saying earlier the operating income in our business is driven by three or four fairly important factors.

QCT 的營運支出 正如我之前所說，我們業務的營運收入是由三到四個相當重要的因素所驅動的。

One is the topline growth which is really a function of how many chips we ship.

一是營收成長，其實取決於我們出貨的晶片數量。

The second is the tax rate of RF devices.

二是射頻元件的稅率。

Third is the product mix between low end and high end and fourthly, if the R&D spending that we do and as I think we have indicated a couple of times today, we very deliberately had made a decision to invest heavily in R&D because we believe we have a tremendous growth opportunity going forward in 2004 and as we begin to address greater portion of the marketplace and as data networks get rolled out.

第三是低端和高端之間的產品組合，第四，如果我們所做的研發支出，正如我認為我們今天已經多次表明的那樣，我們非常有意地決定在研發上進行大量投資，因為我們相信我們2004 年，隨著我們開始佔領更大的市場份額以及數據網路的推出，我們將迎來巨大的成長機會。

So, we certainly are moving forward with the very aggressive investment and as a result of that I think we will certainly make some sacrifices in short-term operating income though as I mentioned to you as a result of fairly healthy growth in first quarter next year our operating income will actually go up next quarter.

因此，我們肯定會繼續進行非常積極的投資，因此我認為我們肯定會在短期營業收入方面做出一些犧牲，儘管正如我向您提到的，由於明年第一季度的相當健康的增長下個季度我們的營業收入其實會上升。

The visibility for the full year right now is -- it is not good enough for us to give you guidance.

目前全年的能見度還不足以讓我們為您提供指導。

I might note that one of our desires is to see the 3G market including the WCDMA market grow marketedly in this coming year and one of the issues in the devices available and early devices have been somewhat power hungry and not great capability partly driven by the fact that many of the functions were on multiple chips and what we are focused very much on is being able to supply the set 3G hand with great capability but without the power consumption and the greater size without the increasing costs and to do that does require heavy R&D and we think that is quite worthwhile and we are continuing to pursue it.

我可能會指出，我們的願望之一是看到3G 市場（包括WCDMA 市場）在來年實現市場成長，而可用設備和早期設備的問題之一是有些耗電且功能不強大，部分原因是這一事實許多功能都在多個晶片上，我們非常關注的是能夠為3G手機提供強大的功能，但不會增加功耗和更大的尺寸，而不會增加成本，而要做到這一點確實需要大量的研發我們認為這是非常值得的，我們將繼續追求它。

On the licenses in China I think probably early in 2003 we were projecting without certainty that they may occur before the end of 2003.

關於中國的許可，我認為可能是在 2003 年初，我們就預測它們可能會在 2003 年底之前發放，但不確定。

With about four or five, six months ago we switched and said it could very well go into the middle of the year and then because of this additional testing many along it began to look that it could be as late and September and right now a bit murky and a little hard to say exactly when it will occur.

大約四、五個、六個月前，我們轉變並說它很可能會進入年中，然後由於這項額外的測試，許多人開始認為它可能會遲到九月，現在有點模糊且有點難以確切地說出它何時會發生。

I might say that on the opposite side of that we didn't think the unified licenses in India would be occuring so quickly and we in fact have not had a chance to really digest that and bake that in the numbers looking forward so we think that that in fact will have a very substantial impact.

我可能會說，另一方面，我們認為印度的統一許可證不會這麼快出現，事實上我們還沒有機會真正消化這一點並將其納入未來的數字中，所以我們認為這實際上會產生非常重大的影響。

I just add the followup to the answer on wide band CDMA that we believe we are extremely well positioned on wide band CDMA with the amount of testing that we have done and amount the traction that we are getting with both customers and carriers around the world.

我只是對寬頻 CDMA 的答案進行補充，我們相信，透過我們所做的大量測試以及我們對全球客戶和營運商的吸引力，我們在寬頻 CDMA 方面處於非常有利的位置。

So going back to the question of 50% market share we certainly think that is a realistic target that we have set for ourselves and -- and we will see how that market plays out.

因此，回到 50% 市場份額的問題，我們當然認為這是我們為自己設定的現實目標，我們將看看該市場的表現如何。

I just want to add, too, to QWI the revenues did increase and the operating margin increased as well, Jeff, so you get -- you got a different mix of businesses in there but actually the operating margin improved in the quarter.

我還想補充一點，傑夫，QWI 的收入確實增加了，營業利潤率也增加了，所以你知道，那裡有不同的業務組合，但實際上本季度的營業利潤率有所提高。

Our next question comes from the line of Dale Foul with CIBC World Markets.

我們的下一個問題來自 CIBC World Markets 的 Dale Foul。

Please go ahead with your question.

請繼續你的問題。

We will proceed with the question from the line of Hasan Imam with Thomas Weisel Partners.

我們將從哈桑·伊瑪目和托馬斯·韋塞爾合夥人那裡繼續討論這個問題。

Please go ahead with your question.

請繼續你的問題。

Thank you.

謝謝。

I had a question could you possibly give us an update on the Flextronics phone which I believe was part of your strategy to capture more of the low end and counter Nokia share gain?

我有一個問題，您能否向我們提供有關 Flextronics 手機的最新信息，我相信這是您佔領更多低端市場並對抗諾基亞份額增長戰略的一部分？

And then maybe give us an update on the timing of when you expect the TI competitive situation to real in back numbers in terms of market share in '04?

然後也許可以向我們介紹一下您預期 TI 的競爭狀況何時會在 04 年的市佔率方面反映出來的最新情況？

Thanks.

謝謝。

Yes, on the Flextronics ODM arrangement, the phone is being introduced in a number of markets by a number of licensees.

是的，根據 Flextronics ODM 協議，許多被授權者正在將這款手機推向多個市場。

It has been a little bit delayed and then part short shortages that Irwin mentioned in general have had an effect on the number of these phones that are -- have been available.

它有點延遲，然後歐文總體上提到的部分短缺對這些手機的數量產生了影響。

But we expect to see substantial growth of deliveries into Brazil India and China looking forward.

但我們預計巴西、印度和中國的交付量將大幅成長。

On TI, Sanjay.

關於 TI，桑傑。

I -- in terms of the -- we certainly have been very successful in meeting the needs of our customers to deliver cost effective solutions in every segment of the marketplace and for them to meet the challenge and the competition and keep the market share so we have enabled our customers to be successful in every single market share with our segmented road map.

我 - 就 - 而言 - 我們當然非常成功地滿足了客戶的需求，為市場的每個細分市場提供具有成本效益的解決方案，並幫助他們應對挑戰和競爭並保持市場份額，因此我們透過我們的細分路線圖，我們的客戶能夠在每個市場佔有率中取得成功。

As TI competition comes on we believe that on the basis of what they have said to the street that they will come in at the low end when we have spent significant amount of resources and effort in making sure that we have available to our customers very cost effective solution and in 2004 we are planning for as Bill mentioned a marginal decrease in our market share but but that is -- in our view driven more by Nokia than by TI.

隨著 TI 競爭的到來，我們相信，根據他們對市場的說法，當我們花費大量資源和精力來確保我們為客戶提供非常成本的產品時，他們將進入低端市場。2004 年，我們正在計劃，正如比爾所提到的那樣，我們的市場份額會小幅下降，但在我們看來，這更多是由諾基亞而非TI 推動的。

Our next question comes from the line of Dale Foul with CIBC World Markets.

我們的下一個問題來自 CIBC World Markets 的 Dale Foul。

Please go ahead with your question.

請繼續你的問題。

We'll go ahead with a question from the line of Louis Gerhardy with Morgan Stanley.

我們將繼續回答來自摩根士丹利的 Louis Gerhardy 的問題。

Please go ahead with your question.

請繼續你的問題。

Two quick questions if I could.

如果可以的話，我想問兩個簡單的問題。

Bill could you give tax guidance for fiscal '04 pro forma and GAAP?

Bill，您能否為 04 財年的預估和 GAAP 提供稅務指引？

And then in terms of the increase in operating expenses for fiscal '04 looks to be 180 to $190 million and can you help us and break that down perhaps by QCT the core earned efforts and QIS would this amount include any small acquisitions you might do in the next year?

然後，就 04 財年的營運支出增加而言，預計為 18 至 1.9 億美元，您能否幫助我們並透過 QCT 分解這一數字，核心收入努力和 QIS 是否會包括您可能在下一年？

Louis, on the tax side the guidance for 2004 is that the core rate would decrease from 33% to 32%.

聖路易斯，在稅收方面，2004 年的指導方針是核心稅率將從 33% 降至 32%。

And for the total QUALCOMM the GAAP rate will reduce from 36 to 35.

高通的 GAAP 比率將從 36 降至 35。

On the operating expense increase guidance the majority of that increase will be R&D and the majority of that R&D will be in QCT.

在營運費用成長指導中，大部分成長將用於研發，其中大部分研發將用於 QCT。

As you are aware, we do put a -- a small but important amount of investment into new businesses that we are looking at.

如您所知，我們確實對我們正在考慮的新業務進行了少量但重要的投資。

And so we will continue that effort as well.

因此，我們也將繼續這項努力。

Of course, most of our focus in the past and going forward is on growing internally and so we do spend quite a bit ourselves on R&D and in growing our own engineering staff as opposed to going out and purchasing other companies.

當然，我們過去和未來的大部分重點是內部成長，因此我們確實在研發和培養自己的工程人員方面投入了大量資金，而不是出去收購其他公司。

And QIS R&D efforts aren't growing substantially.

QIS 的研發工作並沒有大幅成長。

We are spending money on improving our ability to deploy across multiple carriers because we are -- you know like there is, you know, market share or land grant going on in wireless applications delivery and we wanted to make sure that our operators were able to come up more rapidly and so we are investing that as well.

我們正在花錢提高跨多個運營商的部署能力，因為我們——你知道，無線應用程式交付方面存在市場份額或土地授予，我們希望確保我們的運營商能夠發展得更快，所以我們也在投資。

Our next question comes from the line of Peter Friedland with WR Hambrecht Please go ahead with your question.

我們的下一個問題來自 Peter Friedland 和 WR Hambrecht，請繼續提出您的問題。

Hi, could you just clarify what is your expectation for ASP for the September quarter?

您好，您能澄清一下您對 9 月季度的 ASP 的預期嗎？

Sure, Peter.

當然，彼得。

We're expecting the ASP for the September quarter to decline approximately 7%.

我們預計 9 月季度的平均售價將下降約 7%。

So for the June quarter based on the licensee reports it was about approximately $193.

因此，根據被許可人的報告，六月季度的價格約為 193 美元。

So 7% decline for September would bring it down to $179.

因此 9 月下跌 7% 將使其跌至 179 美元。

And that would bring the full fiscal year 2003 to an average of $190 compared to $193 average for fiscal 2002.

這將使 2003 財年的平均成本達到 190 美元，而 2002 財年的平均成本為 193 美元。

Our final question comes from the line of James Faucette with Pacific Crest.

我們的最後一個問題來自 James Faucette 與 Pacific Crest 的對話。

Please go ahead with your question.

請繼續你的問題。

Thanks.

謝謝。

I just had a couple of clarifying questions.

我只是有幾個需要澄清的問題。

First of all, could you say if the BREW piece of QWI has broken into operational profitability or even profitability as measured by EBITDA?

首先，您能否說 QWI 的 BREW 部分是否已突破營運獲利能力，甚至以 EBITDA 衡量的獲利能力？

And then secondly, for the December quarter are you fully booked to the 27-28 million chip set number or I guess another way to ask that is do you see the potential for turns business to generate upside much like we saw in the December 2002 quarter?

其次，對於12 月份的季度，您是否已經預訂了27-2800 萬個晶片組數量，或者我想用另一種方​​式來問這個問題，您是否認為輪換業務有潛力產生上升空間，就像我們在2002 年12 月季度看到的？

Thanks.

謝謝。

We are still in vetting in BREW and we had made the decision to do that because we want wanted to make sure that we could launch the carriers who were signing up more rapidly.

我們仍在對 BREW 進行審查，我們做出這樣做的決定是因為我們希望確保我們能夠更快地推出簽約的營運商。

And so we actually made a conscious decision to do that.

所以我們其實是有意識地決定要這樣做的。

Now, if we look, the revenues continue to grow in that business.

現在，如果我們觀察的話，該業務的收入繼續增長。

And the number of subscribers and their usage of the system continues to grow and that is of course how we make the money off of the system.

訂戶數量及其對系統的使用不斷增長，這當然就是我們從系統中賺錢的方式。

So the trends are all I think moving in the right direction.

所以我認為這些趨勢都在朝著正確的方向發展。

In terms of our visibility and our confidence in the guidance of 27-28 million units for the December quarter, we certainly are providing this guidance quite late in the quarter and we believe our visibility this quarter is better than the other three quarters where we provide this guidance a little earlier in the quarter.

就我們的可見性以及我們對 12 月季度 27-2800 萬台指導的信心而言，我們當然會在本季度末提供此指導，並且我們相信本季度的可見性優於我們提供的其他三個季度該指導意見是在本季早些時候發布的。

And in terms of is there a possibility of an upside we -- we think that a guidance of 27-28 is the right guidance to provide you.

就是否存在上漲的可能性而言，我們認為 27-28 的指導是為您提供的正確指導。

Doctor Jacobs, do you have anything further to add before we adjourn the conference.

雅各布斯博士，在我們休會之前您還有什麼要補充的嗎？

In I would like to thank everyone very much for joining us today.

我非常感謝大家今天加入我們。

It was a very positive year from our point of year as far as great growth in revenues and in earnings.

就收入和盈利的大幅增長而言，這是非常積極的一年。

A little bit untypical distribution over the year.

這一年的分佈有點不典型。

We suspect we will be getting back towards a more typical distribution but many interesting things to occur looking forward now into 2004 the growth of with CDMA particularly now starting in Europe and further growth in Japan and the impact of the unified license in India will be very interesting to watch and we think that there is certainly some very positive upsides there.

我們懷疑我們將回到更典型的分佈，但展望2004 年，將會發生許多有趣的事情，CDMA 的增長，特別是現在在歐洲開始，在日本的進一步增長，以及印度統一許可證的影響將是非常大的。觀看起來很有趣，我們認為這肯定有一些非常積極的好處。

The U.S., the introduction of number portability, that is going to itself have some interesting impact on the sale of phones and capabilities, the need to have and support E911 we think will actually be quite beneficial.

美國引入號碼攜帶，這本身就會對手機的銷售和功能產生一些有趣的影響，我們認為擁有和支援 E911 的需求實際上會非常有利。

The introduction now of the multimode phones coming in this coming year, that will take away the strong division between technologies in different parts of the world and improve possibilities for CDMA operators.

現在推出的多模手機將於明年推出，這將消除世界不同地區技術之間的巨大分歧，並提高 CDMA 營運商的可能性。

And the fact that we have so many BREW applications now being very actively used and producing quite good revenues particularly more recently on the video streaming side of the fence, I think that bodes well for all 3G technologies because the applications can be used regardless of the actual air interface.

事實上，我們現在有如此多的BREW 應用程式被非常積極地使用，並產生了相當可觀的收入，特別是最近在視訊串流方面，我認為這對所有3G 技術來說都是一個好兆頭，因為這些應用程式可以在任何情況下使用。實際空中介面。

So, although we are currently watching very closely what the numbers will be going into this coming year, there are certainly a large number of very interesting developments with our heavy R&D we think we are setting a very strong base going forward.

因此，儘管我們目前正在密切關注來年的數據，但我們的大量研發肯定會帶來大量非常有趣的進展，我們認為我們正在為未來奠定一個非常堅實的基礎。

Thank you all very much for your attendance.

非常感謝大家的出席。

Ladies and gentlemen, that does conclude the conference call for today.

女士們先生們，今天的電話會議到此結束。

We thank you for your participation and ask that you please disconnect your line.

我們感謝您的參與，並請您斷開線路。