Qualcomm has sold 26 per cent stake in its TD-LTE venture in India to Tulip Telecom and Global Holdings.

Qualcomm has sold 26 per cent stake in its TD-LTE venture in India to Tulip Telecom and Global Holdings. Qualcomm will have a 74 per cent stake in the venture, while Global Holding Corporation and Tulip Telecom will hold 13 per cent each, as required by applicable Indian Foreign Direct Investment regulations.

In the recently concluded BWA auction, Qualcomm won one slot of 20 MHz TDD spectrum in the 2.3 GHz band covering the four telecom circles Delhi, Mumbai, Haryana and Kerala.

“Our objective was to secure initial shareholders who are operator-neutral, yet bring strong telecom and broadband experience, and we are extremely pleased we met that objective with Global Holding Corporation and Tulip Telecom,” said Kanwalinder Singh, president of Qualcomm India and South Asia and senior vice president of Qualcomm. 

The company said in its statement on Friday that with it’s initial shareholders, and operators it intend to induct into the venture in the future, Qualcomm will facilitate accelerated deployment of LTE in concert with 3G HSPA and EV-DO networks, which protects and enhances the significant investment made by Indian operators in securing 3G and BWA spectrum.