lunsford group wireless industry snapshot 2010

Wireless Industry Snapshot!

Lunsford Group!

Overview: Fast Facts!

Top Fifteen Wireless Carriers Worldwide 2010

1.  China Mobile, 522.3 million

2.  Vodafone Group, 333 million

3.  Telefonica, 202 million

4.  America Movil, 201 million

5.  Telenor Group, 174 million

6.  Deutsche Telekom, 151.7 million

7.  TeliaSonera, 147.6 million

8.  China Unicom 147.6 million

9.  France Telecom 132.6 million

10. Bharti Airtel, 125 million

11. MTN Group, 123.6 million

12. Axiata, 120 million

13. Mobile Telesystems 101.3 million

14. Etisalat, 100 million

15. Reliance, 100 million

Source: RCRWireless (# subscribers)

Worldwide Mobile Phone Sales Market Share 2009

• Nokia 36.4%

• Samsung 19.5%

• LG 10.1%

• Motorola 4.8%

• Sony Ericsson 4.5%

• Others 24.7%

Source: Gartner

Worldwide Smartphone OS Market Share 2009

• Symbian 46.9%

• RIM 19.9%

• iPhone OS 14.4%

• Windows Mobile 8.7%

• Linux 4.7%

• Android 3.9%

• WebOS .7%

• Other OSs .6%

Source: Gartner

Overview: Fast Facts!

Top Ten U.S. Wireless Carriers 2010

1.  Verizon, 92.8 million

2.  AT&T, 86.9 million

3.  Sprint Nextel, 47.8 million

4.  T-Mobile, 33.7 million

5.  MetroPCS, 7.33 million

6.  U.S. Cellular, 6.14 million

7.  Leap Wireless, 5.40 million

8.  Clearwire, .97 million

9.  Cincinnati Bell, .52 million

10. Ntelos, .46 million

Source: FierceWireless (# subscribers)

Top Ten 3G Markets Worldwide 2009 Subscribers Penetration Rate

1.  USA 112 million 41%

2.  Japan 97.5 million 90%

3.  Korea 35.6 million 75%

4.  Italy 27.8 million 34%

5.  UK 23.7 million 31%

6.  Germany 22.3 million 22%

7.  Spain 22.0 million 41%

8.  France 15.7 million 27%

9.  Australia 13.7 million 56%

10. Indonesia 13.6 million 10%

Source: Morgan Stanley

• 1.3 billion mobile phones will be shipped in 2010. 250 million will be smartphones.

"Mobile will be bigger than the desktop in 5 years… It's ramping faster than the desktop Internet and will be bigger than most think.” !

- Mary Meeker, Morgan Stanley!

Overview: Trends!

Android’s Rapid Challenge to Apple’s iOS •  First quarter 2010, Android jumped from 6th to 4th in terms of mobile OS market

share, and from 1.6% Q1 2009 to 3.9% Q4 2009 to 9.6% Q1 2010. (Gartner)

•  8.2 million Android phones expected to ship in 2010 (Frost & Sullivan)

•  First quarter 2010, 60% of mobile developers building on Android vs. 51% on iOS. (VisionMobile)

•  Flexibility of Android creates immense opportunities for old and new entrants. New form factors and applications for business, military and consumer mobile devices.

Overview: Trends!

Growth of Mobile Advertising •  In 2010, mobile advertising is forecast to grow 45% to $3.8 billion: $3.2 billion SMS

advertising, $253 million mobile display and $321 million mobile search. (J.P. Morgan)

•  1 trillion SMS (text messages) in 2009. Over 84 billion text messages a month.

•  SMS the new spam domain? Or will it be social networks? Either way, less value and ROI in SMS advertising for the future.

Growth of Mobile eCommerce •  In 2010, mobile ecommerce is estimated to hit $2.4 billion from $1.2 billion in the

prior year. (Coda Research)

•  In 2009, Japan had a $10 billion mobile ecommerce market.

•  23% of Internet users in Asia-Pacific made an Internet purchase through a mobile phone vs. 3.5% of users in North America (eMarketer, 2009).

•  19% of Rakuten’s revenues, Japan’s largest ecommerce player, came from mobile.

•  Japan and Korea provide many crystal balls for new technology adoption and growth in the U.S. and Europe (i.e. online gaming, camera phones, micropayments, etc.)

Overview: Trends!

Others to Watch For •  Location-based advertising

•  Augmented reality

•  Mobile gaming devices

•  Mobile video

•  Visual search

Primary Sectors!

• Wireless Carriers

• Mobile Operating Systems

• Mobile Phone Manufacturer

• Wireless Applications

• Location-Based Services

• Other Companies of Interest

Global Wireless Universe!

8

FourSquare

Tom Tom

Gowalla

Garmin

Wireless Carrier

Mobile OS

Mobile Phone Maker

Wireless Application

Location-Based

Other

INVESTMENT / M&A

ALLIANCE

AT&T

AdMob

Meraki

4INFO

EA

Soonr

Deutsche Telekom

NTT DoCoMo

Linux

SpiderCloud

LG

China Mobile

Orange KT

Sprint Nextel Telefonica

RIM

China Unicom

Softbank Mobile

HTC Verizon

Android

Apple

Sony Ericsson

Twitter

GetJar

Skyhook

Booyah

RIM Microsoft

Loopt

Apple

Adobe

Samsung

Nokia

HP

ARM

Motorola

Symbian

Qualcomm

Clearwire

Vodafone

SK Telecom

Select Global Companies:!Detailed Profiles!

Wireless Universe Snapshot!

Wireless Carriers!

10 10

•  HTC •  Nokia •  Palm/HP •  Pantech •  Sony Ericsson

AT&T Mobility Updated: June 2010

Category: Wireless Carrier

Headquarters: Atlanta, GA

URL address: www.wireless.att.com/

Company Background •  AT&T Mobility is a subsidiary of AT&T. It’s the 2nd largest wireless carrier

in the U.S. with 87 million subscribers. •  The exclusive provider of Apple’s iPhone. Due to poor wireless

coverage in major metro areas, such as NYC and San Francisco, AT&T brand and service has been battered. Recent problems with Apple’s iPhone4 brings into question whether it was solely AT&T’s poor network or design issues with the iPhone.

•  Their top selling phones (as of June 2010) are the Samsung A777, Nokia 6350, LG Neon, and Sony-Ericsson W518a.

•  They are the largest Wi-Fi provider with more than 125,000 hot spots around the world (including company-owned and third-party roaming locations) — with the addition of approximately 7,000 Starbucks locations.

Alliances/Subsidiaries •  Microsoft •  Apple •  Blackberry •  Motorola •  Samsung •  LG

Financial Information •  Market Cap: $146.7 billion (AT&T) •  Enterprise Value: $214.3 billion •  2009 Revenues: $123 billion •  2009 Net Income: $12.5 billion •  2009 Profit Margin: 9.65% •  P/E Ratio: 12.37 •  Ticker Symbol: T

Countries of Operation •  USA

Major Shareholders •  Capital Research Global Investors (4.03%) •  Vanguard Group (3.46%) •  BlackRock (2.96%) •  Capital World Investors (1.78%) •  Wellington Management Company (1.69%) •  Bank of New York Mellon (1.35%) •  Northern Trust Corp (1.23%)

No. of employees: 276,280 (AT&T)

Key Management •  Ralph de la Vega, CEO of

AT&T Mobility & Consumer Markets and Pres of Mobility & Consumer Markets

•  Randall L. Stephenson , Chairman, CEO, Pres and Chairman of Exec Committee

Wireless Carriers!

11 11

China Mobile Category: Wireless Carrier

Headquarters: Hong Kong

URL address: www.chinamobileltd.com

Company Background •  China Mobile is the world’s largest wireless provider with more than

548.9 million subscribers. They provide mobile communications and related services primarily to Mainland China.

•  Their three primary services are: Easyown (prepaid service), GoTone (flagship service) and M-zone (premium prepaid service).

•  China Mobile is launching their own Android phone called the “OPhone”. •  The company also offers agricultural information services;

telecommunications network planning and consulting services; technology platform development and maintenance services; and mobile data solutions, and system integration and development services,

Alliances/Subsidiaries •  Android

Financial Information •  Market Cap: $204.3 billion •  Enterprise Value: $171.9 billion •  2009 Revenues: $66.2 billion •  2009 Net Income: $16.9 billion •  2009 Profit Margin: 25.47% •  P/E Ratio: 12.17 •  Ticker Symbol: CHL

Countries of Operation •  China •  Hong Kong •  Pakistan

Major Shareholders •  Fisher Investments (.14%) •  Matthews International Capital (.09%) •  UBS AG (.07%) •  Wellington Management Company (.06%) •  Bank of New York Mellon (.06%) •  Citigroup (.06%)

No. of employees: 145,954

Key Management •  Jianzhou Wang, Chairman,

CEO & President •  Xu Long, Exec. Director,

Chairman & President of Guangdong Mobile

•  Mr. Taohai Xue, CFO, VP of China Mobile

Updated: June 2010

Wireless Carriers!

12 12

China Unicom Category: Wireless Carrier

Headquarters: Hong Kong

URL address: www.chinaunicom.com.hk

Company Background •  China Unicom is the 2nd largest wireless provider in China with over

147.6 million subscribers. Their GSM service covers 31 provinces, municipalities, and autonomous regions, and they have 38.6 million fixed-line broadband subscribers in 335 cities in China.

•  China Unicom is launching a mobile phone built on Google’s Android OS and will be called “uPhone”, and will build their own app store called “Unistore” that will be compatible with Android’s market.

•  The company also offers broadband and other Internet-related services, information communications technology services, business and data communications services, and domestic and international long distance services.

Alliances/Subsidiaries •  Android •  SK Telecom •  Telefonica •  PCCW

Financial Information •  Market Cap: $31.6 billion •  Enterprise Value: $40.4 billion •  2009 Revenues: $22.5 billion •  2009 Net Income: $1.4 billion •  2009 Profit Margin: 4.55% •  P/E Ratio: 30.48 •  Ticker Symbol: CHU

Countries of Operation •  China

Major Shareholders •  Telefonica (8%) •  FMR LLC (.28%) •  Dimensional Fund Advisors (.28%) •  FIL LTD (.22%)


Key Management •  Xiaobing Chang, Chairman,

CEO, Chairman of the Unicom Group and President of the China Telecom Corp

•  Yimin Lu, President & Executive Director

•  Jilu Tong, CFO & Executive Director

Updated: June 2010

Wireless Carriers!

13 13

•  Blackberry •  Garmin •  Dell •  HTC •  Nokia

Deutsche Telekom Category: Wireless Carrier

Headquarters: Bonn, Germany

URL address: www.t-mobile.net

Company Background •  T-Mobile is the wireless provider and subsidiary of Deutsche Telekom. It

is the 6th largest wireless provider in the world and the leading company in Germany with over 151 million subscribers worldwide.

•  T-Mobile UK created a joint venture with France Telecom's Orange UK to form the UK's largest mobile operator called Everything Everywhere.

•  T-Mobile USA is a subsidiary of Deutsche Telekom and the 4th largest wireless provider in the U.S. with 33.7 million subscribers and generates over $17 billion in revenues.

Alliances/Subsidiaries •  Everything Everywhere •  T-Mobile USA •  Android •  Motorola •  Samsung •  Sony Ericsson

Financial Information •  Market Cap: $57.2 billion (Deutsche Telekom) •  Enterprise Value: unknown •  2009 Revenues: $83.2 billion •  2009 Net Income: $456.8 million •  2009 Profit Margin: 1.32% •  P/E Ratio: 20.04 •  Ticker Symbol: XETRA: DTEL.DE

Countries of Operation •  Germany •  UK •  USA •  Austria •  Croatia •  Czech Republic •  Hungary •  Netherlands

Major Shareholders •  Federal Republic of Germany (14.8%) •  KfW Bankengruppe (16.9%)


Key Management •  Rene Obermann, CEO •  Timotheus Hottges, CFO •  Olivier Baujard, CTO •  Anastassia Lauterbach, Acting

Chief Product & Innovation Officer

Updated: June 2010

Wireless Carriers!

14 14

•  East Telecom (Uzbekistan) •  Apple

KT Category: Wireless Carrier

Headquarters: Sungnam, South Korea

URL address: www.kt.com

Company Background •  KT, originally Korea Telecom, was the state-owned telecommunications

provider in South Korea. After spinning out its wireless division, KTF, it acquired it back in 2009, so both landline and wireless services are housed under KT.

•  KT is the exclusive distributor of Apple’s iPhone in Korea, which has experienced tremendous sales and has made it more competitive with the leading carrier in Korea, SK Telecom.

•  KT provides integrated telecommunications services. It offers telephone services, including local, domestic, and international long-distance fixed-line telephone services. The company also provides broadband Internet access and other Internet-related services, including IP-TV services; and PCS mobile telecommunications service, and third-generation HSDPA-based IMT-2000 wireless Internet and video multimedia communications services. (Yahoo! Finance)

Alliances/Subsidiaries •  MT (Mongolia) •  KT China •  NTC (Russia) •  KT JC (Japan) •  KTAI (USA)

Financial Information •  Market Cap: $9.3 billion •  Enterprise Value: $15.4 billion •  2009 Revenues: $16.9 billion •  2009 Net Income: $524 million •  2009 Profit Margin: 2.52% •  P/E Ratio: 20.78 •  Ticker Symbol: KT

Countries of Operation •  S. Korea •  Mongolia •  China •  Russia •  Japan •  USA •  Uzbekistan

Major Shareholders •  Silchester Int'l Investors (3.63%) •  BlackRock Fund Advisors (2.83%) •  Franklin Resources (2.15%)

No. of employees: unknown

Key Management •  Suk-Chae Lee, CEO,

Chairman of Exec. Committee •  Sang-Hoon Lee, President,

Director and President of Enterprise Customer Group

•  Soo-Ho Maeng, CFO & Sr. Exec. VP of Global Business Unit

Updated: June 2010

Wireless Carriers!

15 15

•  Samsung •  Blackberry •  Sony Ericsson •  Umobile (Malaysia carrier) •  Tata Teleservices (6th in India)

NTT DoCoMo Category: Wireless Carrier

Headquarters: Tokyo, Japan

URL address: www.nttdocomo.co.jp

Company Background •  NTT DoCoMo is the leading wireless provider in Japan with over 56

million subscribers and 50% market share. Its cutting-edge i-mode service was the leader and model for many in the world to follow in 1999 and the early 2000s. NTT DoCoMo also launched FOMA™, the world's first 3G commercial mobile service, in 2001 which was based on W-CDMA.

•  NTT DoCoMo is a subsidiary of NTT, which is the primary telecommunications company in Japan and 33.7% owned by the Japanese government.

•  The company and its subsidiaries provide wireless telecommunications services, packet communications services, and satellite mobile communications services in Japan.

Alliances/Subsidiaries •  Sharp (handset maker) •  Panasonic (handset maker) •  NEC Casio (handset maker) •  Fujitsu (handset maker) •  LG Electronics (handset maker)

Financial Information •  Market Cap: $66.2 billion •  Enterprise Value: $64.5 billion •  2010 Revenues: $45.9 billion (March 2010) •  2010 Net Income: $5.3 billion (March 2010) •  2010 Profit Margin: 11.55% •  P/E Ratio: 11.87 •  Ticker Symbol: DCM

Countries of Operation •  Japan •  USA •  UK •  France •  Netherlands •  Germany •  China •  India

Major Shareholders •  NTT •  Renaissance Technologies (.05%) •  Scout Investment Advisors (.05%)


Key Management •  Ryuji Yamada, President and

CEODr. Kiyoyuki •  TsujimuraSenior EVP

(Multimedia Services & Technology)

•  Masatoshi SuzukiSenior EVP (Global Business and Corporate)

Updated: June 2010

Wireless Carriers!

16 16

•  Blackberry •  Sony Ericsson •  Orange ISP (formerly

Wanadoo) •  Orange Armenia •  Orange Austria

Orange Category: Wireless Carrier

Headquarters: Arcueil, France

URL address: www.orange.com

Company Background •  Orange is the wireless and Internet subsidiaries of France Telecom.

Recently, France Telecom also adopted the “Orange” name across most of its services to be consistent with its branding. The company is the leading telecom and wireless provider in France and the 9th largest wireless providers in the world with over 132.6 million subscribers.

•  In 2009, France Telecom fixed line business was 18.5% of their revenues, mobile was 75.4%, and Internet was 6.1%.

•  In 2008, Orange gained the rights to sell Apple’s iPhone in Austria, Belgium, the Dominican Republic, Egypt, Jordan, Poland, Portugal, Romania, Slovakia, Switzerland and Orange's African markets.

•  Orange is the largest ISP in Europe and provides services in France, Spain, the United Kingdom, Kenya, Equatorial Guinea, Senegal, Guinea, Mali, Romania, Slovakia and Switzerland.

Alliances/Subsidiaries •  Apple •  Nokia •  Samsung •  Alcatel •  LG •  HTC

Financial Information •  Market Cap: $50.8 billion (France Telecom) •  Enterprise Value: unknown •  2009 Revenues: $64.8 billion •  2009 Net Income: $6.2 billion •  2009 Profit Margin 6.52% •  P/E Ratio: 13.47 •  Ticker Symbol: FTE

Countries of Operation •  France •  Austria •  Cameroon •  Israel •  Kenya •  Spain •  Uganda

Major Shareholders •  France Telecom (Orange) •  Brandes Investment Partners (.36%) •  Allianz Global Investors of America (.17%)

No. of employees: 176,669 (France Telecom)

Key Management •  Stephane Richard, CEO and

Head of Operations in France •  Gervais Pellissier, CFO,

Deputy CEO, Chairman of Claims Committee

•  Marc Rennard , Exec. VP, Head of Operations - Africa Middle-East & Asia

Updated: June 2010

Wireless Carriers!

17 17

•  Motorola •  Samsung •  LG

SK Telecom Category: Wireless Carrier

Headquarters: Seoul, South Korea

URL address: www.sktelecom.com

Company Background •  SK Telecom is the leading wireless provider in South Korea with 47.9

million subscribers and over 50% market share. SK Telecom was the first in the world to commercialize 3G and then HSDPA (2006), or 3.5G.

•  Their primary services are: NATE, a wired and wireless portal service; JUNE, a premium multimedia streaming service (i.e. video, real-time TV); MELON, mobile music portal; GXG, game portal service.

•  In 2006, SKT created a $440 million JV with Earthlink to enter the U.S. market. The new entity was called Helio. By 2007, SKT had to invest $270 million more and took operational control. By 2008, Helio was acquired by Virgin Mobile for $39 million. This was probably a case of poor management and strategy by the two JV partners. Helio oddly targeted Korean Americans in LA as one of its markets, which is a very niche population of 1 million people.

•  In 2008, SKT launched a JV with Citibank called Mobile Money Ventures, which provides mobile financial service solutions globally.

Alliances/Subsidiaries •  Android •  China Unicom •  Citibank •  Helio (acquired) •  SK Communications (CyWorld)

Financial Information •  Market Cap: $10.2 billion •  Enterprise Value: $14.7 billion •  2009 Revenues: $12.5 billion •  2009 Net Income: $907 million •  2009 Profit Margin 8.57% •  P/E Ratio: 9.93 •  Ticker Symbol: SKM

Countries of Operation •  South Korea •  USA •  China •  Hong Kong •  Singapore •  Philippines •  Malaysia

Major Shareholders •  Citibank ADR (29.72%) •  SK Corp (23.22%) •  [Korea] National Pension Corp (3.4%) •  POSCO (2.9%) •  Tradewinds Global Investors (4.52%) •  Brandes Investment Partners (2.75%) •  BlackRock Fund Advisors (2.16%) •  Morgan Stanley (1.98%)


Key Management •  Man-Won Jung, CEO &

President •  Jae Won Chey, Vice

Chairman, CEO of SK Holdings, CEO of SK Gas

•  Dong-Hyun Jang, CFO

Updated: June 2010

Wireless Carriers!

18 18

•  IBM •  Northrop Grumman •  HTC •  LG •  Sanyo •  Samsung

Sprint Nextel Category: Wireless Carrier

Headquarters: Overland Park, KS

URL address: www.sprint.com

Company Background •  Sprint Nextel is the 3rd largest wireless provider in the U.S. with 47.8

million subscribers. Sprint launched the first 4G service in the U.S. using Clearwire’s WiMAX technology.

•  Sprint owns 56% in Clearwire, who built out the 4G network for Sprint. •  Boost Mobile is a brand of Sprint Nextel under its Prepaid Group, and

has over 5 million subscribers. They additional have the Virgin Mobile and Assurance Wireless brands under this group.

•  Sprint Nextel provides wireless services on networks that utilize CDMA, iDEN (from Nextel acquisition), and 4G (WiMAX) technologies. The other major U.S. wireless carrier that uses CDMA technology is Verizon Wireless.

Alliances/Subsidiaries •  RadioShack •  Boost Mobile •  Alcatel Lucent •  Cisco •  HP •  Palm

Financial Information •  Market Cap: $13.7 billion •  Enterprise Value: $30.3 billion •  2009 Revenues: $32.3 billion •  2009 Net Income: ($2.4) billion •  2009 Profit Margin (8.42%) •  P/E Ratio: N/A •  Ticker Symbol: S


Major Shareholders •  AXA (7.98%) •  Dodge & Cox (7.84%) •  Bank of New York Mellon (7.10%) •  Goldman Sachs Group (4.00%) •  Vanguard Group (3.47%) •  State Street Corp (3.40%) •  BlackRock Institutional Trust (2.99%)


Key Management •  Dan Hesse, Chairman, CEO &

President •  Robert H. Brust, CFO •  Keith O. Cowan, President of

Strategic Planning & Corp Initiatives

•  Daniel H. Schulman, President of Prepaid Group

Updated: June 2010

Wireless Carriers!

19 19

•  Panasonic (handset maker) •  Nokia •  HTC •  Samsung •  ZTE

Softbank Mobile Category: Wireless Carrier

Headquarters: Tokyo, Japan

URL address: mb.softbank.jp

Company Background •  Softbank Mobile is a subsidiary of Softbank Corp, which is the holding

company of Masayoshi Son. It is the 3rd largest wireless provider in Japan with 22.5 million subscribers.

•  In 2006, Vodafone sold Vodafone Japan (Vodafone KK) to SoftBank for 1.75 trillion yen (approx US$15.1 billion).

•  Softbank Mobile was the exclusive distributor of Apple’s iPhone in Japan, which allowed it to capture 72% of the smartphone market (BusinessWeek, April 22, 2010). However, the smartphone market isn’t large relative to Japan’s overall wireless market. Japan’s advanced feature phones dominate the current consumer interests.

Alliances/Subsidiaries •  Apple •  Android •  Casio (handset maker) •  Toshiba (handset maker) •  Sharp (handset maker) •  NEC (handset maker)

Financial Information •  Market Cap: N/A •  Enterprise Value: N/A •  2009 Revenues: (latest available is 2005) •  2009 Net Income: (latest available is 2005) •  2009 Profit Margin: (latest available is 2005) •  P/E Ratio: N/A •  Ticker Symbol:

Countries of Operation •  Japan

Major Shareholders •  Softbank Corp


Key Management •  Masayoshi Son, Chairman &

CEO •  Ken Miyauchi, Senior EVP &

COO •  Tetsuzo Matsumoto, Senior

EVP

Updated: June 2010

Wireless Carriers!

20 20

Telefonica Category: Wireless Carrier

Headquarters: Madrid, Spain

URL address: www.telefonica.com

Company Background •  Telefonica is the leading wireless provider in Spain and the 3rd largest in

the world with 202 million subscribers worldwide. •  The company operates in 25 countries with its strongest presence in

Europe and Latin America. More than 60% of its business is outside of Spain. In Latin America, it services more than 172 million customers.

•  Additionally, they have 40 million fixed telephony, 15 million Internet, and 2.5 million pay TV subscribers. Movistar is their flagship brand for landline and wireless services in Spain and Latin America. O2 is their brand for similar services in the UK, Germany, Ireland, Czech Republic, and Slovakia. Terra is their brand for interactive services and online content for Spain and Latin America.

•  In 2005, O2 was acquired by Telefonica for GBP17.7 billion (approx. US$27.1 billion). Currently O2 UK has 18.4 million subscribers.

Alliances/Subsidiaries •  O2 •  Terra •  China Unicom

Financial Information •  Market Cap: $95.5 billion •  Enterprise Value: $155.6 billion •  2009 Revenues: $81.4 billion •  2009 Net Income: $11.2 billion •  2009 Profit Margin: 13.40% •  P/E Ratio: 9.73 •  Ticker Symbol: TEF

•  Spain •  Colombia •  Ecudaor •  El Salvador •  Guatemala •  Mexico •  Nicaragua •  Panama

Major Shareholders •  Banco Bilbao Vizcaya Argentaria (6.96%) •  Caixa d'Estalvis i Pensions de Barcelona ("La Caixa") (5.44%) •  Morgan Stanley (.68%) •  Dodge & Cox (.53%) •  Franklin Resources (.36%)


Key Management •  César Alierta Izuel, Executive

Chairman & CEO •  Julio Linares Lopez, COO •  Jose Maria Alvarez-Pallete

Lopez, Executive Director and GM of Telefónica Latinoamérica

Updated: June 2010

•  Argentina •  Brazil •  Chile •  UK •  Ireland •  Germany •  Czech Republic

Countries of Operation

Wireless Carriers!

21 21

•  Samsung •  Blackberry •  LG •  Claro (Puerto Rico)

Verizon Category: Wireless Carrier

Headquarters: Basking Ridge, NJ

URL address: www.verizon.com

Company Background •  Verizon Wireless is a joint venture between Verizon Communications

(55%) and Vodafone Group (45%). This is the leading wireless provider in the U.S. with 92.8 million subscribers.

•  Verizon Communications operates in two segments, Wireline and Domestic Wireless. The Wireline segment provides voice, Internet access, broadband video and data, next generation Internet protocol (IP) network services, network access, and long distance services to consumers, carriers, businesses, and government customers. (Yahoo! Finance)

•  In 2009, Verizon Wireless acquired Alltel Wireless for $28.1 billion. This allowed Verizon Wireless to become the largest wireless provider in the U.S. in terms of subscribers.

•  The company is one of two major wireless carriers utilizing CDMA technology. The other is Sprint Nextel.

Alliances/Subsidiaries •  Verizon Wireless •  Vodafone •  Android •  Motorola •  HTC •  HP/Palm

Financial Information •  Market Cap: $75.5 billion •  Enterprise Value: $134 billion •  2009 Revenues: $107.8 billion •  2009 Net Income: $3.65 billion •  2009 Profit Margin: 2.23% •  P/E Ratio: 31.40 •  Ticker Symbol: VZ

Countries of Operation •  USA •  Puerto Rico

Major Shareholders •  Capital World Investors (4.87%) •  Vanguard Group (3.47%) •  BlackRock Institutional Trust (2.69%)


Key Management •  Ivan G. Seidenberg, Chairman

& CEO •  John F. Killian, CFO &

Executive VP •  Lowell C. McAdam, Executive

VP & CEO of Verizon Wireless •  John W. Diercksen, Executive

VP of Strategy & Planning

Updated: June 2010

Wireless Carriers!

22 22

•  Safaricom (Kenya, 35%) •  Softbank Mobile (Japan) •  Chunghwa Telecom (Taiwan) •  Android

Vodafone Category: Wireless Carrier

Headquarters: Newbury, UK

URL address: www.vodafone.com

Company Background •  Vodafone is the 2nd largest wireless provider in the world with over 341

million subscribers. In its home market, the UK, Vodafone is the 3rd largest carrier.

•  The company has operations in 31 countries and partner networks in another 40 countries. Vodafone’s strongest presence is in Europe, Asia Pacific, Africa, the Middle East and the U.S.

Alliances/Subsidiaries •  Verizon Wireless (45%) •  SFR (France, 43.9%) •  Plus (Poland, 24.4%) •  China Mobile (China, 3.4%) •  Airtel (India, 4.4%)

Financial Information •  Market Cap: $135.9 billion •  Enterprise Value: unknown •  2009 Revenues: $68.7 billion •  2009 Net Income: $13.4 billion •  2009 Profit Margin: 19.4% •  P/E Ratio: 9.15 •  Ticker Symbol: VOD

Countries of Operation •  UK •  USA •  Germany •  Greece •  Hungary •  Italy •  Netherlands •  Spain

Major Shareholders •  Dodge & Cox (1.75%) •  FMR LLC (.74%) •  Morgan Stanley (.39%)


Key Management •  Sir John Bond, Chairman •  Vittorio Colao, CEO •  John Buchanan, Deputy

Chairman •  Andy Halford, CFO

Updated: June 2010

•  Czech Republic •  Romania •  Turkey •  Australia •  India •  New Zealand •  China •  Egypt

Mobile Operating Systems!

23 23

•  NEC •  Kyocera •  ZTE •  Nuance •  ARM •  Qualcomm

Android Category: Mobile OS

Headquarters: Mountain View, CA

URL address: www.android.com

Company Background •  Android is Google’s Linux-based mobile operating system, which

includes middleware and key applications. Original Android, Inc, it was acquired by Google in July, 2005. The co-founders were Andy Rubin (co-founder of Danger), Rich Miner (co-founder of Wildfire Communcations), Nick Sears and Chris White.

•  Android’s vision and plans were revealed in late 2007 with the announcement of the Open Handset Alliance, which was a consortium of 71 hardware, software and telecom companies seeking to accelerate mobile innovation. Android was its foundation as the first complete, open and free mobile platform. Google released the Android code under the Apache License, which is an open source license.

Alliances/Subsidiaries •  Open Handset Alliance •  HTC •  Motorola •  Samsung •  Dell Garmin •  Haier

Financial Information •  Market Cap: $157.3 billion (Google) •  Enterprise Value: $129.29 billion •  2009 Revenues: $23.7 billion •  2009 Net Income: $6.52 billion •  2009 Profit Margin: 28.30% •  P/E Ratio: 22.49 •  Ticker Symbol: GOOG

Countries of Operation •  USA •  Japan •  South Korea •  China •  UK •  Spain •  Germany •  France

Major Shareholders •  FMR LLC (6.37%) •  Capital Research Global Investors (3.85%) •  Vanguard Group (3.52%) •  Price (T.Rowe) Associates (3.47%) •  State Street Corporation (3.26%) •  BlackRock Institutional Trust (2.98%)

No. of employees: approximately 250 / 20,621 (Google)

Key Management •  Eric E. Schmidt, Chairman,

CEO •  Dr. Larry Page, Co-Founder,

President of Products •  Sergey Brin, Co-Founder,

President of Technology •  Andy Rubin, VP of

Engineering, Head of Android

Updated: June 2010


24 24

Apple Category: Mobile OS

Headquarters: Cupertino, CA

URL address: www.apple.com

Company Background •  Apple is a leading consumer electronics, PC and mobile smartphone

manufacturer. The company's best-known products include the Macintosh computers, the iPod, the iPhone and the iPad. They also operate 284 retail stores in 10 countries.

•  Apple's strength is in its design and creating cool, cutting products. Steve Jobs, their CEO, has famously stated they don't use focus groups for their products because they know what consumers want.

•  iOS is Apple's mobile operating system that was developed for iPhone and now used in iPad. This operating system and related user-interface (UI) is elegantly designed. The iOS/iPhone's App Store is a revolution in mobile services since the iPhone SDK has allowed numerous companies and individuals to create new mobile applications that were not possible or ideal in previous mobile environments.

•  iPhone 4 was released on June 24, 2010 and sold 1.7 million during the first three days.

Alliances/Subsidiaries •  FileMaker •  AT&T •  Foxconn Technology Group

Financial Information •  Market Cap: $228.8 billion •  Enterprise Value: $205.9 billion •  2009 Revenues: $42.9 billion •  2009 Net Income: $8.23 billion •  2009 Profit Margin: 21.15% •  P/E Ratio: 21.32 •  Ticker Symbol: AAPL

Countries of Operation •  USA •  China •  UK •  Australia •  New Zealand •  Japan •  Germany •  France

Major Shareholders •  FMR LLC (4.99%) •  Vanguard Group (3.53%) •  BlackRock Institutional Trust (2.90%) •  Price (T.Rowe) Associates (2.67%) •  Janus Capital Management (2.07%)


Key Management •  Steve P. Jobs, Co-Founder,

CEO •  Peter Oppenheimer, CFO &

SVP •  Timothy Cook, COO •  Scott Forstall, SVP of iPhone

Software Engineering & Platform

Updated: June 2010


25 25

•  AMD •  Cisco •  Google •  HP •  Motorola •  Nokia

Linux Category: Mobile OS

Headquarters: San Francisco, CA

URL address: www.linux.com

Company Background •  In 1991, Linus Torvalds wrote the Linux kernel that spawned the

development of the Linux operating system. Linux was an excellent example of the power of collaboration within open source software.

•  In 2007, the Linux Foundation was created to sponsor the work of Linus Torvalds and add need infrastructure into the Linux community.

•  Linux became an alternative to Symbian, Windows CE and others for mobile devices since it was inexpensive and flexible enough to allow customization. In 2006, 16.7% of smartphones in the world were using Linux.

•  In 2009, Linux had 5% of the overall mobile operating system market (Gartner).

Members •  Fujitsu •  Hitachi •  IBM •  Intel •  NEC •  Oracle

Financial Information •  Market Cap: N/A •  Enterprise Value: N/A •  2009 Revenues: N/A •  2009 Net Income: N/A •  2009 Profit Margin: N/A •  P/E Ratio: N/A •  Ticker Symbol: N/A

Countries of Operation •  USA •  UK •  China •  Japan •  France •  Germany •  Brazil •  Finland

Major Shareholders •  N/A

No. of employees: n/a

Key Management •  John Zeglis, Chairman and

CEO •  Michael Keith, EVP •  Mohan Gyani, President &

CEO, Wireless Services

Updated: June 2010


26 26

Microsoft Category: Mobile OS

Headquarters: Redmond, WA

URL address: www.microsoft.com

Company Background •  Microsoft Corporation provides software and hardware products and

solutions worldwide. The Client segment offers Windows 7/Vista comprising Home Basic, Home Premium, Enterprise, and Starter editions; and Windows XP, including Professional, Home, Media Center, and Tablet PC editions. The Server and Tools segment develops software server products and solutions consisting of Microsoft SQL Server, Visual Studio, Silverlight, Biz Talk Server, and others. The Online Services Business segment provides online advertising platform; online information offerings; and email and instant messaging services.

•  Microsoft’s mobile OS is Windows Mobile. Windows Mobile market share has fallen over the past several years due to its clunkiness and bugginess. It currently has a 9% share of the mobile OS market.

•  The latest version is “Windows Phone 7” which is launching this October 2010. It’s been emphasized that Windows Phone 7 will be an advertising platform.

Alliances/Subsidiaries •  HTC •  Samsung •  LG

Financial Information •  Market Cap: $223.6 billion •  Enterprise Value: $189.1 billion •  2009 Revenues: $58.4 billion •  2009 Net Income: $14.6 billion •  2009 Profit Margin: 29.03% •  P/E Ratio: 13.22 •  Ticker Symbol: MSFT

Countries of Operation •  USA •  UK •  China •  Japan •  Germany •  Brazil •  Spain •  Russia

Major Shareholders •  Capital Research Global Investors (4.20%) •  Vanguard Group (3.20%) •  State Street (3.02%) •  Capital World Investors (2.78%) •  BlackRock Institutional Trust (2.56%)


Key Management •  Steven A. Ballmer, CEO •  B. Kevin Turner, COO •  Robert Bach, President of

Entertainment & Devices •  Stephen A. Elop, President of

Microsoft Business Division

Updated: June 2010


27 27

•  Vodafone •  Airtel •  T-Mobile •  China Mobile •  Telefonica •  SK Telecom

RIM Category: Mobile OS

Headquarters: Waterloo, Ontario, Canada

URL address: www.rim.com

Company Background •  Research In Motion Limited (RIM) is a Canadian wireless device and

telecommunications company that created the BlackBerry smartphone. Initially starting out as a pager company, RIM's BlackBerry product started its stranglehold on the enterprise market in the early 2000s with its ability to quickly send and receive emails. This earned the nickname "CrackBerry” from corporate users across North America and than the globe.

•  Over 50 million BlackBerry phones have been sold, which makes it the second best selling smartphone.

Alliances/Subsidiaries •  eBay •  Tata Indicom •  China Telecom •  Alcatel-Lucent •  Orange •  IBM

Financial Information •  Market Cap: $30.6 billion •  Enterprise Value: unknown •  2009 Revenues: $14.9 billion •  2009 Net Income: $2.46 billion •  2009 Profit Margin: 16.8% •  P/E Ratio: 11.34 •  Ticker Symbol: RIMM

Countries of Operation •  Canada •  USA •  UK •  France •  Germany •  Japan •  South Korea •  China

Major Shareholders •  FMR LLC (4.16%) •  Janus Capital Management (4.07%) •  Royal Bank of Canada (2.73%) •  Toronto Dominion Bank (2.55%) •  Invesco (2.17%) •  Blackrock Inc (1.93%)


Key Management •  Mike Lazaridis, Founder,

President & co-CEO •  Jim Balsillie, co-CEO •  Don Morrison, COO •  Robin Bienfait, CIO •  Brian Bidulka, CFO

Updated: June 2010


28 28

•  Sony Ericsson •  AT&T •  Vodafone •  NTT DoCoMo •  Orange •  Softbank

Symbian Category: Mobile OS

Headquarters: London, UK

URL address: www.symbian.org

Company Background •  They Symbian Platform started out as Symbian Software Limited. In

2008, Nokia acquired it and created an independent non-profit called the Symbian Foundation. The foundation doesn’t directly develop the platform, but seeks to ensure compatibility and coordination within the Symbian community. Such as organizing, distributing and building the Symbian source code among its members.

•  The "Symbian platform" is the successor to the "Symbian OS", and was made available as open source code in February 2010. The platform was created by integrating the software contributions from Nokia, NTT DoCoMo, Sony Ericsson, and Symbian Ltd. This was obviously a move to counter the growing threat of Google's Android.

•  While Symbian still retains 47% of the mobile OS market and is the leader in the smartphone market, its grip is quickly becoming undone.

•  The founding members where: Nokia, Sony Ericsson, NTT DoCoMo, Motorola, TI, Vodafone, LG, Samsung, and others.

Members •  Fujitsu •  Huawei •  LG •  Nokia •  Samsung •  Sharp

Financial Information •  Market Cap: N/A •  Enterprise Value: N/A •  2009 Revenues: N/A •  2009 Net Income: N/A •  2009 Profit Margin: N/A •  P/E Ratio: N/A •  Ticker Symbol: N/A

Countries of Operation •  UK •  USA •  South Korea •  China •  Japan •  Finland •  India •  Brazil

Major Shareholders •  N/A

No. of employees: 10+

Key Management •  Lee Williams, Executive

Director •  John Forsyth, Technology &

Delivery Management •  Tim Holbrow, Finance & Ops •  Dietmar Tallroght, General

Counsel

Updated: June 2010

Mobile Phone Makers!

29 29

Apple

Company Background Alliances/Subsidiaries

Financial Information

Countries of Operation Major Shareholders Key Management

Updated: June 2010

Category: Mobile Phone Maker

Headquarters: Cupertino, CA

URL address: www.apple.com

•  Apple is a leading consumer electronics, PC and mobile smartphone manufacturer. The company's best-known products include the Macintosh computers, the iPod, the iPhone and the iPad. They also operate 284 retail stores in 10 countries.

•  Apple's strength is in its design and creating cool, cutting products. Steve Jobs, their CEO, has famously stated they don't use focus groups for their products because they know what consumers want.

•  Apple's revolutionary iPhone was introduced in January 2007. At the time, the iPhone had a unique multi-touch screen with a virtual keyboard and its App Store, which allowed third-party developers to create various applications for the platform.

•  iPhone 4 was release on June 24, 2010 and sold 1.7 million during the first three days.

•  FileMaker •  AT&T •  Foxconn Technology Group

•  Market Cap: $228.8 billion •  Enterprise Value: $205.9 billion •  2009 Revenues: $42.9 billion •  2009 Net Income: $8.23 billion •  2009 Profit Margin: 21.15% •  P/E Ratio: 21.32 •  Ticker Symbol: AAPL

•  USA •  China •  UK •  Australia •  New Zealand •  Japan •  Germany •  France

•  FMR LLC (4.99%) •  Vanguard Group (3.53%) •  BlackRock Institutional Trust (2.90%) •  Price (T.Rowe) Associates (2.67%) •  Janus Capital Management (2.07%)


•  Steve P. Jobs, Co-Founder, CEO

•  Peter Oppenheimer, CFO & SVP

•  Timothy Cook, COO •  Scott Forstall, SVP of iPhone

Software Engineering & Platform


30 30

HP Category: Mobile Phone Maker

Headquarters: Palo Alto, CA

URL address: www.hp.com

Company Background •  Hewlett-Packard Company is the storied original startup of Silicon Valley.

Founded in a Palo Alto garage in 1939 by Bill Hewlett and Dave Packard.

•  HP sells various products, technologies, solutions, and services worldwide. Its Personal Systems Group division makes PCs for consumer and enterprise, handheld computing devices, calculators, and other related products.

•  HP recently acquired Palm for $1.2 billion. Palm’s CEO, Jon Rubinstein, now runs Palm under Todd Bradley's Personal Systems Group. Bradley is also a former Palm CEO.

•  Palm was once the leader in PDAs with their Palm Pilot, Palm V, Zire and Tungsten series. They also had successful entry into the smartphone market with the Treo and Centro models, but competition from Apple, BlackBerry and Android made their next series, Pre, an unsuccessful launch.

Alliances/Subsidiaries •  Palm •  O2 •  AT&T •  Sprint Nextel •  Vodafone

Financial Information •  Market Cap: $108.6 billion (HP) •  Enterprise Value: $111.4 billion •  2009 Revenues: $114.6 billion •  2009 Net Income: $7.66 billion •  2009 Profit Margin: 7.09% •  P/E Ratio: 13.19 •  Ticker Symbol: HPQ

Countries of Operation •  USA •  UK •  Singapore •  New Zealand •  Malaysia •  Mexico •  Brazil

Major Shareholders •  Vanguard Group (3.57%) •  FMR LLC (3.51%) •  Dodge & Cox (2.97%) •  BlackRock Institutional Trust (2.77%) •  Capital Research Global Investors (2.44%) •  Capital World Investors (2.11%)


Key Management •  Mark Hurd, Chairman, CEO &

President •  Catherine A. Lesjak, CFO &

EVP •  Ann M. LIvermore, EVP of

Enterprise Business •  Todd Bradley, EVP of Personal

Systems Group

Updated: June 2010


31 31

•  Sprint Nextel •  AT&T •  Softbank Mobile •  NTT DoCoMo •  Qwest •  Android

HTC Category: Mobile Phone Maker

Headquarters: Taoyuan City, Taiwan

URL address: www.htc.com

Company Background •  In 1997, Cher Wang and Peter Chou founded HTC as a notebook

computer manufacturer. They shifted towards hand-held PCs and smartphones within a few years. In 2009, they shipped out 11.71 million units with 3G wireless handsets accounting for 95% of total units shipped.

•  HTC was the first mobile manufacturer for Microsoft's Pocket PC, a Microsoft powered smartphone, Microsoft 3G phone, and the first Android-based mobile phone. In June 2009, they launched the HTC Evo 4G, the first 4G mobile phone in the U.S.

•  In March 2010, Apple claimed that HTC infringed upon 20 its patents covering aspects of the iPhone user interface and hardware. HTC countered by claiming Apple infringed on 5 of its patents. Also in a probable defensive measure against Apple, HTC signed a broad patent agreement with Microsoft for various patents related to mobile technology. They will be paying royalty fees to Microsoft.

Alliances/Subsidiaries •  Microsoft •  T-Mobile •  Orange •  Telefonica •  Vodafone •  Verizon

Financial Information •  Market Cap: unknown •  Enterprise Value: unknown •  2009 Revenues: $4.5 billion •  2009 Net Income: $703 million •  2009 Profit Margin: 15.6% •  P/E Ratio: unknown •  Ticker Symbol: 2498.TW

Countries of Operation •  USA •  Canada •  Taiwan •  China •  Japan •  Singapore •  UK •  Germany

Major Shareholders •  Way-Chih Investment Co. (5.14%) •  Way-Lien Technology (4.78%) •  Euro Pacific Growth Fund (3.08%) •  Hon-Mou Investment Co. (2.86%)


Key Management •  Cher Wang, Chairman •  Peter Chou, CEO & President •  Fred Liu, Senior EVP &

President of Engineering •  Hui-Ming Cheng, CFO

Updated: June 2010


32 32

•  MaxDome •  SkyLife •  Hitachi •  Microsoft •  Intel •  Android

LG Category: Mobile Phone Maker

Headquarters: Seoul, Korea

URL address: www.lg.com

Company Background •  LG Electronics is global leader in consumer electronics, mobile

communications and home appliances. It is the 2nd largest manufacturer of TVs and the 3rd largest of mobile phones.

•  In 2009, LGE sold over 117 million handsets worldwide. •  LG's five primary business units are: Home Entertainment, Mobile

Communications, Home Appliance, Air Conditioning and Business Solutions.

Alliances/Subsidiaries •  Qualcomm •  Schneider •  GE •  Viking •  Skype •  Microsoft

Financial Information •  Market Cap: $11.9 billion •  Enterprise Value: unknown •  2009 Revenues: $43.4 billion •  2009 Net Income: unknown (not clear) •  2009 Profit Margin: unknown •  P/E Ratio: unknown •  Ticker Symbol: LSE: LGLD

Countries of Operation •  South Korea •  USA •  Japan •  China •  UK •  France •  India •  Germany

Major Shareholders •  LG Corp. (31%) •  Foreign investors (27%) •  Domestic investors (42%)


Key Management •  Yong Nam, Vice Chairman &

CEO •  Simon Kang, President & CEO

of Home Entertainment •  Skott Ahn, President & CEO of

Mobile Communications •  Young-Ha Lee, President &

CEO of Home Appliance

Updated: June 2010


33 33

Motorola Category: Mobile Phone Maker

Headquarters: Schaumburg, IL

URL address: www.att.com

Company Background •  Motorola has had a bumpy ride in the recent decade, but has been in the

forefront of mobile communications since developing the world's first cellphone. Recently bringing on board Sanja Jha as Co-CEO, the company simplified its structure into two business units: Mobile Devices & Home and Enterprise Mobility Solutions & Networks.

•  Once the number two player, it has declined to become the 4th largest mobile phone manufacturer in the world with 4.8% market share.

•  The company's handset efforts have been leading in the development of new smartphones using Google's Android OS. Their DROID and DROID X models have been well received by consumers.

Alliances/Subsidiaries •  Android •  Verizon

Financial Information •  Market Cap: $18.4 billion •  Enterprise Value: $12.9 billion •  2009 Revenues: $22 billion •  2009 Net Income: ($51 million) •  2009 Profit Margin: 1.15% •  P/E Ratio: 64.92 •  Ticker Symbol: MOT

Countries of Operation •  USA •  Canada •  South Korea •  China •  India •  UK •  France •  Germany

Major Shareholders •  Dodge & Cox (9.89%) •  AXA (7.49%) •  Icahn Capital (6.72%) •  NWQ Investment Management (4.60%) •  Highfields Capital Management (4.09%)


Key Management •  Gregory Q. Brown, Co-

Chairman, Co-CEO, & CEO of Motorola Solutions

•  Sanjay K Jha, Co-Chairman, Co-CEO & CEO of Mobile Devices & Home

•  Edward J. Fitzpatrick, CFO & SVP

Updated: June 2010


34 34

Nokia Category: Mobile Phone Maker

Headquarters: Espoo, Finland

URL address: www.nokia.com

Company Background •  Nokia is the largest mobile phone manufacturer in the world with over

one billion mobile phones sold. It is also the largest Finnish company and accounts for a significant portion of their economy.

•  Nokia was one of the primary developers of GSM (Global System for Mobile Communications), which was a second-generation mobile technology that could carry voice and data traffic.

•  Nokia also provides Internet, digital mapping, and navigation services worldwide. Its NAVTEQ group provides various digital map information and location-based content services. Its Nokia Siemens Networks group provides mobile and fixed network solutions: systems integration, network and service management, charging and billing software, and subscriber database management.

Alliances/Subsidiaries •  Siemens (partnership) •  Navteq (subsidiary) •  Vertu (subsidiary) •  Qt Software (subsidiary) •  Symbian Foundation

Financial Information •  Market Cap: $32.7 billion •  Enterprise Value: $25.9 billion •  2009 Revenues: $58.8 billion •  2009 Net Income: $373 million •  2009 Profit Margin: 2.71% •  P/E Ratio: 22.67 •  Ticker Symbol: NOK

Countries of Operation •  Finland •  UK •  Spain •  Germany •  France •  China •  Hong Kong •  USA

Major Shareholders •  FMR LLC (2.19%) •  Barrow, Hanley Mewhinney & Strauss (1.85%) •  AXA (1.00%)


Key Management •  Olli-Pekka Kallasvuo,

Chairman, CEO & President •  Timo Ihamuotila, CFO & EVP •  Anssi Vanjoki, EVP of Markets •  Dr. Tero Ojanpera, EVP of

Services

Updated: June 2010


35 35

RIM Category: Mobile Phone Maker

Company Background Alliances/Subsidiaries

Financial Information

Countries of Operation Major Shareholders Key Management

Updated: June 2010

•  Vodafone •  Airtel •  T-Mobile •  China Mobile •  Telefonica •  SK Telecom

Headquarters: Waterloo, Ontario, Canada

URL address: www.rim.com

•  Research In Motion Limited (RIM) is a Canadian wireless device and telecommunications company that created the BlackBerry smartphone. Initially starting out as a pager company, RIM's BlackBerry product started its stranglehold on the enterprise market in the early 2000s with its ability to quickly send and receive emails. This earned the nickname "CrackBerry” from corporate users across North America and than the globe.

•  Over 50 million BlackBerry phones have been sold, which makes it the second best selling smartphone.

•  eBay •  Tata Indicom •  China Telecom •  Alcatel-Lucent •  Orange •  IBM

•  Market Cap: $30.6 billion •  Enterprise Value: unknown •  2009 Revenues: $14.9 billion •  2009 Net Income: $2.46 billion •  2009 Profit Margin: 16.8% •  P/E Ratio: 11.34 •  Ticker Symbol: RIMM

•  Canada •  USA •  UK •  France •  Germany •  Japan •  South Korea •  China

•  FMR LLC (4.16%) •  Janus Capital Management (4.07%) •  Royal Bank of Canada (2.73%) •  Toronto Dominion Bank (2.55%) •  Invesco (2.17%) •  Blackrock Inc (1.93%)


•  Mike Lazaridis, Founder, President & co-CEO

•  Jim Balsillie, co-CEO •  Don Morrison, COO •  Robin Bienfait, CIO •  Brian Bidulka, CFO


36 36

•  O2 •  Telefonica •  China Mobile •  China Unicom •  Vodafone •  Orange

Samsung Category: Mobile Phone Maker

Headquarters: Seoul, Korea

URL address: www.samsung.com

Company Background •  Samsung Electronics is a leading consumer electronics and

semiconductor company. It is the largest memory chip maker and second largest semiconductor manufacturer in the world. It is the 2nd largest mobile phone manufacturer in the world after Nokia with 19.5% market share. It is the flagship subsidiary of the Samsung Group.

•  In 2009, Samsung Electronics surpassed Siemens and HP as the world’s largest technology company in terms of revenues.

Alliances/Subsidiaries •  Samsung Group •  AT&T •  Verizon •  Sprint Nextel •  T-Mobile •  SK Telecom

Financial Information •  Market Cap: $97.4 billion •  Enterprise Value: unknown •  2009 Revenues: $117.1 billion •  2009 Net Income: $8.33 billion •  2009 Profit Margin: unknown •  P/E Ratio: unknown •  Ticker Symbol: 005930.KS

Countries of Operation •  South Korea •  USA •  China •  India •  UK •  France •  Germany •  Spain

Major Shareholders •  Kun-Hee Lee & affiliates (17.57%) •  [Korea] National Pension Service (5.90%)


Key Management •  Yoonwoo Lee, Vice Chairman

& Chairman of the BOD •  Gee-Sung Choi, President &

CEO •  Ju-Hwa Yoon, CFO

Updated: June 2010


37 37

Sony Ericsson Category: Mobile Phone Maker

Headquarters: London, UK

URL address: www.sonyericsson.com

Company Background •  Sony Ericsson is a joint venture between Sony Corp and Ericsson to

manufacture mobile phones. Ericsson was third largest mobile handset maker, but due to various reasons struggled which led to this JV in 2001. Sony was the leading consumer electronics company, but a marginal player in the mobile handset business so it jumped at this opportunity to partner with Ericsson. It is currently the 5th largest mobile phone manufacturer in the world.

•  The company’s more successful models have utilized Sony’s existing consumer brands: Walkman-branded phone and Cyber-shot-branded phone.

•  In 2009, they sold over 57 million handsets worldwide and had 4.5% market share.

Alliances/Subsidiaries •  T-Mobile •  Telefonica •  Orange •  Vodafone

Financial Information •  Market Cap: $26.9 billion (Sony) •  Enterprise Value: $29.5 billion (Sony) •  2009 Revenues: $10.4 billion (Sony Ericsson) •  2009 Net Income: ($1.3) billion (Sony Ericsson) •  2009 Profit Margin: (0.57%) (Sony) •  P/E Ratio: N/A (Sony) •  Ticker Symbol: SNE (Sony)

Countries of Operation •  UK •  Sweden •  Japan •  China •  India •  France •  Germany

Major Shareholders •  Sony •  Ericsson


Key Management •  Bert Nordberg, President •  Kristian Tear, EVP •  William A. Glaser, CFO •  Rikko Sakaguchi, EVP & Chief

Creation Officer

Updated: June 2010

Wireless Applications!

38 38

4INFO Category: Location-Based

Headquarters: San Mateo, CA

URL address: www.4info.com

Company Background •  4INFO is the largest provider of free text message alerts in the U.S. It's

a free service with some wireless carriers charging for text messages. They currently send over 400 million SMS alerts and answers per month.

•  The 4INFO SMS Ad Network offers businesses targeted advertising programs through SMS ad serving technology. Companies also partner with 4INFO to publish free ad-supported SMS content. (CrunchBase)

•  The company generates revenues through advertising placed in the text messages. Their top ten requested content is: MLB scores, horoscopes, pickup lines, celeb gossip, weather, jokes, trivia, flirt tips, living well tips, and insults.

•  In June 2010, the company acquired Butter, a mobile advertising company that builds custom applications for iPhone and Android phones.

Alliances/Subsidiaries

Financial Information •  Market Cap: N/A •  Enterprise Value: N/A •  2009 Revenues: unknown •  2009 Net Income: unknown •  2009 Profit Margin: unknown •  P/E Ratio: N/A •  Ticker Symbol: N/A


Investors •  Draper Fisher Jurvetson, USVP, Sand Hill Capital, Gannett,

Tim Connors, and Dan Ehrman, $8 million Series A •  DFJ, USVP, Sand Hill Capital, Gannett, Tim Connors, and Dan

Ehrman, $10 million Series B •  Peacock Equity, DFJ, USVP, Sand Hill Capital, Gannett, and

Selby Venture, $20 million Series C/D (unclear information)

No. of employees: 30

Key Management •  Zaw Thet, Co-Founder & CEO •  Rob DeMillo, CTO •  Julie Shumaker, SVP of Sales

& Marketing •  Richard Qiu, SVP of Biz

Development

Updated: June 2010


39 39

GetJar Category: Wireless Application


URL address: www.getjar.com

Company Background •  GetJar is the largest independent app store and second largest after

Apple's App Store. They have had over 1 billion downloads with 75, 000 mobile applications in over 200 countries. Their open market approach allows them to deliver applications on all phones and major platforms, such as Android, BlackBerry, iPhone, Symbian and Windows Mobile.

•  GetJar was founded in Vilnius, Lithuania by Ilja Laurs. Now they are headquartered in San Mateo, CA with offices in the UK and Lithuania.

Alliances/Subsidiaries •  Apple •  Android •  BlackBerry •  Symbian •  Sprint Nextel


Countries of Operation •  USA •  UK •  Lithuania

Investors •  Accel, $6 million Series A •  Accel, $11 million Series B


Key Management •  Ilja Laurs, CEO & Founder •  Chris Dury, VP of Products •  Patrick Mork, CMO •  Bill Scott, VP of Sales & Biz

Dev •  VJ Anand, VP of Engineering •  Tom Burke, CFO

Updated: June 2010


40 40

Meraki Category: Wireless Application


URL address: www.meraki.com

Company Background •  Meraki's technology was developed from MIT's Roofnet project. The

core is a wireless mesh hardware and software that allows people to extend the range of their Wifi networks.

•  Meraki’s networking systems bring enterprise-class networking to organizations of all sizes. Meraki's unique cloud-hosted controller architecture provides centralized management and security though an intuitive web interface, eliminating the high costs and complexity associated with traditional networking systems. Over 15,000 organizations in 140+ countries around the world rely on Meraki for their networks. (company website)

Alliances/Subsidiaries •  Google •  City of San Francisco



Investors •  Google, Seed Round •  Sequoia Capital, $5 million Series A •  Sequoia Capital, DAG Ventures, and Northgate Capital, $20

million Series B


Key Management •  Sanjit Biswas, CEO & Co-

Founder •  John Bicket, CTO & Co-

Founder •  Hans Robertson, VP of

Product Management & Co-Founder

Updated: June 2010


41 41

•  Qualcomm •  Texas Instruments •  Apple

Skyhook Category: Wireless Application

Headquarters: Boston, MA

URL address: www.skyhookwireless.com

Company Background •  Skyhook is the leader in location positioning with its technology that

utilizes Wi-Fi access points to determine geographic location instead of GPS hardware.

•  Skyhook’s Wi-Fi Positioning System (WPS) uses hundreds of millions of Wi-Fi access points worldwide, and provides accurate location information indoors and in urban areas. Its database contains over 230 million access points and has already mapped most of the U.S and Europe.

•  XPS is their the hybrid positioning system which is the first of its kind. This utilizes several location technologies, WPS, GPS, and cellular tower triangulation to provide the fastest, most accurate, and flexible location system.

•  With Apple’s selection of Skyhook over Google’s location data, the company has increasingly competed with Google. It also faces competition from RIM and Nokia, who have their own technologies.

•  , who

Alliances/Subsidiaries •  Samsung •  Motorola •  Gowalla •  Foursquare •  Aloqa •  Opera



Investors •  Nokia and Commons Angels, $1.8 million Series A •  Nokia, Intel, Bain Capital Ventures, Commons Angels, $6.5

million Series B •  Intel, Bain Capital Ventures, Common Angels, RRE Ventures,

$8.5 million Series C


Key Management •  Ted Morgan, CEO & Co-

Founder •  Michael Shean, SVP of Biz

Dev & Co-Founder •  Nick Brachet, CTO •  Dr. Farshid Alizadeh-Shabdiz,

Chief Scientist

Updated: June 2010


42 42

Soonr Category: Wireless Application

Headquarters: Campbell, CA

URL address: www.soonr.com

Company Background •  SoonR is a service that enables standard mobile phones to use the

applications on computers in an optimized way. SoonR allows users to use any data enabled device (mobile phone, PDA, or computer) to access the information on PCs, such as Desktop Search, Outlook, Mac Mail, Skype, and the files on desktop computers, using the built-in communications facilities of the device. There is no software to install on the phone; users simply need to install a secure client on their computers. (CrunchBase)

Alliances/Subsidiaries •  CSL (Hong Kong)



Investors •  Clearstone Venture Partners, Intel Capital, $6 million Series A •  Clearstone Venture Partners, Intel Capital, and Cisco, $9.5

million Series B •  Clearstone Venture Partners, Intel Capital, Cisco, and Sand Hill

Capital, $3 million Series C •  Clearstone Venture Partners, Intel Capital, Cisco, HighBar

Ventures, Presido Ventures, $4.5 million Series D


Key Management •  Martin Frid-Nielsen, Co-

Founder, Chairman, & CEO •  Song Huang, Co-Founder &

Chief Evangelist •  Steven Boye, Co-Founder &

CTO •  Lars Gunnersen, Co-Founder

& VP of Engineering

Updated: June 2010


43 43

SpiderCloud Category: Wireless Application

Headquarters: Santa Clara, CA

URL address: www.spidercloud.com

Company Background •  SpiderCloud is startup that developed the industry’s first enterprise radio

access network (E-RAN) that enables direct integration between enterprise IT networks and mobile devices through small cell technologies. This wireless platform has solved indoor coverage and capacity issues for mobile operators and their business customers.

•  The SmartCloud E-RAN solution provides a flexible and native architecture for enabling enterprise wireless applications such as mobile unified communications and IP-PBX integration. Such seamless integration allows enterprise users to transparently access corporate assets with their existing unmodified mobile devices for not just voice, but also video and data applications. (company website)

Alliances/Subsidiaries


Countries of Operation •  USA •  UK

Investors •  Charles River, Matrix Partners, $15 million Series A •  Charles River, Matrix Partners, Shasta Ventures, and Opus

Capital, $25 million Series B


Key Management •  Mike Gallager, CEO •  Behrooz Parsay, SVP of

Engineering & Operations •  Theresa McCarthy, General

Counsel & VP •  Ron Pelley, VP & MD for

Europe

Updated: June 2010


44 44

Twitter Category: Wireless Application


URL address: www.twitter.com

Company Background •  Twitter was founded by Jack Dorsey, Biz Stone and Evan Williams in

March 2006. It's a micro-blogging services that allows people to post updates and links within 140 characters.

•  Users can send and receive tweets through the main website, external applications (i.e. Seesmic, TweetDeck, Echofon), or through SMS in certain countries. SMS usage may incur fees from certain mobile operators.

•  The company experienced rapid growth with an excellent strategy of opening its APIs and allowing for third-party developers to built applications to proliferate Twitter's usage. Today Twitter has over 190 million users and a profound effect on media and real-time communications throughout the world. Over 65 million tweets are posted each day.

•  In April 2008 Twitter launched Twitter Japan in partnership with Digital Garage. Twitter can be used in multiple languages worldwide.

Alliances/Subsidiaries •  Twitter Japan •  Digital Garage


Countries of Operation •  USA •  Japan

Investors •  Charles River, Union Square, Marc Andreessen, Dick Costolo,

Ron Conway, and Greg Yaitanes, $5 million Series A •  Union Square, Bezos Expeditions, Spark Capital, Digital

Garage, Kevin Rose, $15 million Series B •  Union Square, Charles River, Digital Garage, Benchmark, IVP,

and Spark Capital, $35 million Series C •  Benchmark Capital, IVP, Spark Capital, Insight Venture, T.

Rowe Price, and Morgan Stanley, $100 million Series D


Key Management •  Jack Dorsey, Co-Founder &

Chairman •  Evan Williams, Co-Founder &

CEO •  Biz Stone, Co-Founder &

Creative Director •  Dick Costolo, COO •  Greg Pass, CTO

Updated: June 2010

Location-Based Services!

45 45

Booyah Category: Location-Based

Headquarters: Palo Alto, CA

URL address: www.booyah.com

Company Background •  Booyah is a leading location-based service that competes with

FourSquare and Gowalla. The company is trying to define the new market of “Real-World Gaming.”

•  Booyah’s MyTown app has more gaming elements than its competitors mentioned above. It is the most popular location-based social game for the iPhone, and it reached 2 million users a couple months faster than FourSquare, who gets more media attention.

•  The development team came from gaming industry leaders: Blizzard Entertainment, Activision, EA, and Insomniac Games.

•  In May, Booyah signed a partnership agreement with Google to be the first company working on Google's Places Web Service feature. This API will give Booyah's MyTown access to Google's data set of over 50 million locations worldwide. (TechCrunch)

Alliances/Subsidiaries •  Google



Investors •  Kleiner Perkins Caufield & Byers (iFund), $4.5 million Series A •  Kleiner Perkins Caufield & Byers?, $5 million Series B •  KPCB, Accel Partners, DAG Ventures, $20 million Series C


Key Management •  Keith Lee, CEO & Co-Founder •  Sam Christiansen, CTO & Co-

Founder •  Brian Morrisroe, Chief

Creative Officer & Co-Founder

Updated: June 2010


46 46

•  Gossip Girl •  Huffington Post

FourSquare Category: Location-Based

Headquarters: New York, NY

URL address: www.foursquare.com

Company Background •  Foursquare is a location-based social network with gaming elements,

such as badges and mayorships, that incentivize users to check-in and share information with their contacts.

•  Points are awarded for check-ins along with various badges, such as swarm (50+ checking in at the same place), super user (30 check-ins in a month) and crunked (4+ stops in one night). Users are given the "Mayor" title when they are the person who has checked in the most times at a certain location.

•  Foursquare surpassed 2 million users in July 2010 along with 100 million check-ins.

Alliances/Subsidiaries •  Skyhook •  Zagat •  Bravo •  Conde Nast •  The New York Times •  MTV



Investors •  Union Square, O'Reilly AlphaTech, SV Angel, Jack Dorsey,

Kevin Rose, $1.35 million Angel round •  Union Square, O'Reilly AlphaTech, and Andreessen Horowitz,

$20 million Series B


Key Management •  Dennis Crowley, Co-Founder •  Naveen Selvadurai, Co-

Founder •  Alex Rainert, Chieft Product

Officer •  Holger Luedorf, VP of Mobile

& Partnerships

Updated: June 2010


47 47

Garmin Category: Location-Based

Headquarters: Olathe, KS

URL address: www.garmin.com

Company Background •  Garmin Ltd. (Garmin) is a provider of navigation, communication and

information devices and applications, which are enabled by global positioning system (GPS) technology. The Company designs, develops, manufactures and markets a range of hand-held, portable and fixed-mount GPS-enabled products and other navigation, communications and information products for the automotive/mobile, outdoor/fitness, marine and general aviation markets. The Company operates in four segments: Marine, Automotive/Mobile, Outdoor/Fitness and Aviation. (Reuters)

•  Garmin partnered with ASUSTeK Computer to build their own mobile phones. For the U.S., T-Mobile is the exclusive distributor for the Garminfone, which is an Android-powered smartphone.

Alliances/Subsidiaries •  Android •  KPN (Netherlands) •  ASUSTeK Computer •  T-Mobile •  Microsoft

Financial Information •  Market Cap: $5.84 billion •  Enterprise Value: $4.69 billion •  2009 Revenues: $2.95 billion •  2009 Net Income: $703 million •  2009 Profit Margin: 23.56% •  P/E Ratio: 8.52 •  Ticker Symbol: GRMN

Countries of Operation •  USA •  UK •  Taiwan

Major Shareholders •  Sterneck Capital Management (14.31%) •  First Citizens Bank & Trust (.08%)


Key Management •  Dr. Min H. Kao, Chairman &

CEO •  Clifton A. Pemble, President &

COO •  Kevin S. Rauckman, CFO &

Treasurer •  Andrew Etkind, VP, General

Counsel & Secretary

Updated: June 2010


48 48

Gowalla Category: Location-Based

Headquarters: Austin, TX

URL address: www.gowalla.com

Company Background •  Gowalla is a location-based social networking game and service created

by Alamofire. They have more than 300,000 users, but they trail Booyah and Foursquare, who are their primary competitors, who both have more than 2 million users.

•  One minor difference that Gowalla has is that they allow for "trips" to be created and check-in at, and not just "spots" or "places" (like in Foursquare).

Alliances/Subsidiaries •  Skyhook



Investors •  The Founders Fund, Alsop-Louie Partners, $2 million Series A •  Greylock Partners, Shasta Ventures, Maples Investments,

Kevin Rose, Chris Sacca, Jason Calacanis, and SV Angel, $8.29 million Series B


Key Management •  Josh Williams, Co-Founder &

CEO •  Scott Raymond, Co-Founder

& CTO •  Keegan Jones, Visual

Designer •  John Critz, Senior Developer

Updated: June 2010


49 49

•  Zagat •  CitySearch •  Bing •  Metromix

Loopt Category: Location-Based

Headquarters: Mountain View, CA

URL address: www.loopt.com

Company Background •  Loopt is a location-based social mapping services and utilizes a mobile

phone-based GPS sharing system that allows people to visualize one another using their cell phones and share information. Loopt also enables users to explore nearby locations by connecting them with content from Zagat, Bing, CitySearch, Metromix and others.

•  The company has over 4 million users and partnerships with every major U.S. wireless carrier. Loopt's service is available on over 100 phones, including iPhone, BlackBerry and Android handsets.

•  In response to FourSquare, Booyah and others, Loopt launched their competing service called Loopt Star, which might be too late in the game for them. Loopt was the perceived leader in location-based social networking, but the space did not take off until Foursquare and others were launched (or that Loopt was too early since they started in 2005).

Alliances/Subsidiaries •  AT&T •  Verizon •  T-Mobile •  Android •  Apple •  CBS



Investors •  Y Combinator, $6,000 Seed round •  New Enterprise Associates, Sequoia, $5 million Series A •  New Enterprise Associates, Sequoia, $12 million Series B


Key Management •  Sam Altman, Co-Founder &

CEO •  Nick Sivo, Co-Founder & CTO •  Alok Deshpande (Co-Founder

& Chief Software Architect •  Brian Knapp, COO

Updated: June 2010


50 50

Tom Tom Category: Location-Based

Headquarters: Amsterdam, Netherlands

URL address: www.tomtom.com

Company Background •  Tom Tom is a digital mapping and device manufacturer that focuses on

automotive navigation systems. •  70.6% of the company's sales are in Europe, 25.9% in North America

and 3.5% in the rest of the world. •  In 2008, Tom Tom acquired Tele Atlas, a digital map maker, for 2.9 billion

euros ($3.74 billion) after a bidding war with Garmin. Garmin dropped out after signing a long-term agreement with Navteq, which was acquired by Nokia.

•  As a minor product differentiation versus Garmin, Tom Tom has licensed various voices for their navigation units. Celebrities and characters such as Snoop Dogg, Yoda, Darth Vader, Chip'n'Dale, Austin Powers, Tony Blair, and George Bush.

Alliances/Subsidiaries •  Tele Altas

Financial Information •  Market Cap: $1.4 billion •  Enterprise Value: unknown •  2009 Revenues: $1.94 billion •  2009 Net Income: $112 million •  2009 Profit Margin: unknown •  P/E Ratio: unknown •  Ticker Symbol: Euronext: TOM2

Countries of Operation •  Netherlands •  USA •  France •  Germany •  Spain •  Brazil •  Australia •  New Zealand

Major Shareholders •  Harold Goddijn, Co-Founder (12%) •  Corinne Vigreux, Co-Founder (12%) •  Pieter Geelen, Co-Founder (12%) •  Peter-Frans Pauwels, Co-Founder (12%) •  Janivo/Cyrte (8%)


Key Management •  Harold Goddijn, Co-Founder &

CEO •  Marina Wyatt, CFO

Updated: June 2010

Other Companies of Interest!

51 51

AdMob Category: Other


URL address: www.admob.com

Company Background •  AdMob is one of the world's largest mobile advertising networks. They

offer publishers a Mobile Advertising Network, AdMob Mobile Analytics, and a Mobile Metrics Report. They supposedly serve more than 7.1 billion mobile banner and text ads per month.

•  The company empowers advertisers to create ads and target people in specific locations, wireless carriers, mobile platforms and phone models.

•  The company was acquired by Google in November 2009 for $750 million. Prior to their acquisition, AdMob acquired AdWhirl, an ad developer for iPhone applications.

Alliances/Subsidiaries •  Google


Countries of Operation •  USA •  UK •  Japan •  Singapore

India •  South Africa

Investors •  Michael Dearing, $4 million Series A •  Accel, Sequoia Capital, $15 million Series B •  Accel, Sequoia Capital, $15.7 million Series C •  DFJ, Northgate Capital, $12.5 million Series C


Key Management •  Omar Hamoui, Founder &

CEO •  Russell Buckley, VP of Global

Alliances •  Cheryl Dalrymple, CFO •  Ali Diab, VP of Product

Management

Updated: June 2010


52 52

•  NVIDIA •  McAfee

Adobe Category: Other

Headquarters: San Jose, CA

URL address: www.adobe.com

Company Background •  Adobe is the company that helped launch the desktop publishing

industry along with Apple and other companies. Their software from Adobe PostScript to Illustrator to Photoshop have had a profound impact on design and publishing throughout the world.

•  Additionally, their Portable Document Format (PDF) and Flash changed document delivery and web interactivity for millions of online users.

•  Recently Adobe and Apple have had public arguments regarding the reliability and security of Flash. Steve Jobs has stated that Apple decided not to support Adobe Flash on their iPhone and other products due to the issues above. Adobe responded that the real reason was that Apple wished to maintain control over their iOS platform.

•  In October 2009, Adobe acquired Omniture for $1.8 billion. Omniture is a leader in web analytics and optimization.

Alliances/Subsidiaries •  Omniture •  Conviva •  RIM •  Qualcomm •  Salesforce.com •  Nokia

Financial Information •  Market Cap: $15 billion •  Enterprise Value: $13.49 billion •  2009 Revenues: $2.95 billion •  2009 Net Income: $386 million •  2009 Profit Margin: 11.66% •  P/E Ratio: 40.14 •  Ticker Symbol: ADBE

Countries of Operation •  USA •  Canada •  Germany •  India •  Romania •  China

Major Shareholders •  Primecap Management (6.53%) •  Jennison Associates (5.59%) •  Vanguard/Primecap Fund (4.58%) •  FMR LLC (3.52%) •  Vanguard Group (3.50%) •  BlackRock Institutional Trust (3.30%)


Key Management •  Dr. John Warnock, Co-

Founder & Co-Chairman •  Dr. Charles Geschke, Co-

Founder & Co-Chairman •  Shantanu Narayen, CEO &

President •  Mark Garrett, CFO & EVP •  Kevin Lynch, CTO

Updated: June 2010


53 53

•  IBM •  Matsushita •  Qualcomm •  Motorola •  Samsung •  Sony Ericsson

ARM Category: Other

Headquarters: Cambridge, UK

URL address: www.arm.com

Company Background •  ARM Holdings is the leading semiconductor intellectual property (IP)

supplier. Their IP is the dominant design in mobile phone chips. •  The company was a JV between Apple, Acorn Computers and VLSI

Technology and founded in 1990. •  Their business model is the designing and licensing of IP, and they do

not manufacturer or sell any semiconductor chips. Companies pay ARM to license their IP and a royalty on every chip or wafer produced.

•  Over 15 billion ARM based chips have been shipped to date, and 600 processor licenses sold to more than 200 companies.

Alliances/Subsidiaries •  Sharp •  TI •  Cirrus Logic •  Alcatel •  Microsoft •  HP

Financial Information •  Market Cap: $6.45 billion •  Enterprise Value: unknown •  2009 Revenues: $466 million •  2009 Net Income: $61.8 million •  2009 Profit Margin: unknown •  P/E Ratio: 47.97 •  Ticker Symbol: ARMH

Countries of Operation •  UK •  Germany •  France •  Sweden •  USA •  China •  South Korea •  Japan

Major Shareholders •  Janus Capital (13%) •  Threadneedle Asset Management (4.9%) •  Thornberg Investment (4.9%) •  INVESCO Asset Management (4.8%) •  Wellington Management (4.8%)


Key Management •  Warren East, CEO •  Tudor Brown, Co-Founder &

President •  Graham Budd, COO •  John Cornish, EVP & GM of

System Design Division

Updated: June 2010


54 54

Clearwire Category: Other

Headquarters: Kirkland, Washington

URL address: www.clearwire.com

Company Background •  Clearwire Corporation builds and operates mobile broadband networks,

and offers a robust suite of high-speed Internet services to consumers and businesses.

•  Utilizing WiMAX technology, Clearwire provides 4G service in two markets and provides pre-WiMAX services (2.5-2.6 GHz in the U.S. / 3.5 GHz in Europe) in 50 markets across the U.S. and Europe. Their 4G service is called CLEAR.

•  Their 4G mobile broadband service is available today in 32 markets and covers 41 million people. By the end of 2010, it is expected to be available for 120 million in the U.S.

•  The company was founded by cellular phone pioneer Craig McCaw in 2003.

Alliances/Subsidiaries •  Sprint •  Google •  Intel •  Comcast •  Time Warner Cable

Financial Information •  Market Cap: $1.32 billion •  Enterprise Value: $1.04 billion •  2009 Revenues: $274 million •  2009 Net Income: ($326 million) •  2009 Profit Margin: (109.29%) •  P/E Ratio: N/A •  Ticker Symbol: CLWR

Countries of Operation •  USA •  Ireland •  Belgium •  Spain •  Denmark •  Mexico

Major Shareholders •  Sprint (56%) •  Intel Capital, Google, Comcast, Time Warner Cable, Bright

House Networks (27%) •  Intel (18.15%) •  FMR LLC (13.74%) •  Goldman Sachs (4.63%) •  Fidelity Growth Company (3.84%) •  Goldman Sachs Mid-Cap Value Fund (2.90%)


Key Management •  Bill Morrow, CEO •  Laurent J. Bentitou, Chief

People Officer •  Hope F. Cochran, SVP of

Finance & Treasurer •  Teresa Elder, President of

Strategic Partnerships & Wholesale

Updated: June 2010


55 55

Electronic Arts Category: Other

Headquarters: Redwood City, CA

URL address: www.ea.com

Company Background •  Electronic Arts Inc. develops, markets, publishes, and distributes video

game software and content. The company’s games include a range of categories, including action-adventure, casual, sports, family, fantasy, racing, music, massively-multiplayer online role-playing, simulation, and strategy. (Yahoo! Finance)

•  Its portfolio of properties includes various brands, such as Need for Speed, The Sims, Spore, Dead Space, Mass Effect, and Battlefield; and EA SPORTS Active, Dragon Age, Origins, and Dante’s Inferno. The company’s portfolio of games based on licensed intellectual property includes sports-based titles, such as Madden NFL Football, FIFA Soccer, and Tiger Woods PGA Tour. (Yahoo! Finance)

•  In November 2009, EA acquired social game developer, Playfish, for $400 million.

Alliances/Subsidiaries •  Bioware •  Criterion Games •  Bright Light Studios

Financial Information •  Market Cap: $5.14 billion •  Enterprise Value: $3.14 billion •  2010 Revenues: $3.65 billion •  2010 Net Income: ($677 million) •  2010 Profit Margin: (18.53%) •  P/E Ratio: 35.43 •  Ticker Symbol: ERTS

Countries of Operation •  USA •  UK •  Canada •  India •  China •  South Korea •  Spain •  Brazil

Major Shareholders •  Price (T.Rowe) Associates (8.52%) •  Dodge & Cox (7.80%) •  Primecap Management (7.53%) •  Fisher Investments (4.20%) •  Manning & Napier Advisors (3.56%)


Key Management •  John Riccitiello, CEO •  Eric F. Brown, CFO & EVP •  John Schappert, COO •  Frank D. Gibeau, President of

EA Games Label •  Peter R. Moore, President of

EA Sports Label

Updated: June 2010


56 56

Qualcomm Category: Other

Headquarters: San Diego, CA

URL address: www.qualcomm.com

Company Background •  QUALCOMM engages in the development, design, manufacture, and

marketing of digital wireless telecommunications products and services. The company operates in four segments: Qualcomm Code Division Multiple Access Technologies (QCT), Qualcomm Technology Licensing (QTL), Qualcomm Wireless and Internet (QWI), and Qualcomm Strategic Initiatives (QSI). (Yahoo! Finance)

•  The QCT segment develops and supplies code division multiple access (CDMA)-based integrated circuits and system software. The QTL segment grants licenses to use portions of its intellectual property portfolio, which includes cdmaOne, CDMA2000, WCDMA, CDMA TDD and others. The QWI segment comprises Qualcomm Internet Services that provides content enablement services for the wireless industry. The QSI segment makes strategic investments to promote the worldwide adoption of CDMA-based products and services. (Yahoo! Finance)

Alliances/Subsidiaries •  ZTE •  Oracle •  Audiovox •  Symbian •  AT&T •  Verizon

Financial Information •  Market Cap: $64.2 billion •  Enterprise Value: $53.2 billion •  2009 Revenues: $10.4 billion •  2009 Net Income: $1.59 billion •  2009 Profit Margin: 29.28% •  P/E Ratio: 20.86 •  Ticker Symbol: QCOM

Countries of Operation •  USA •  South Korea •  China •  Japan

Major Shareholders •  Vanguard Group (3.60%) •  State Street Corp (3.37%) •  Price (T.Rowe) Associates (3.25%) •  FMR LLC (3.05%)


Key Management •  Dr. Paul E. Jacobs, Chairman

& CEO •  Steven R. Altman, President •  Derek Aberle, EVP &

President of Qualcomm Tech Licensing

•  Andrew Gilbert, EVP & President of QIS / Europe

Updated: June 2010

lunsford group wireless industry snapshot 2010

Technology

mobile search

mobile display

mobile telesystems

mobile developers

mobile ecommerce market

growth of mobile advertising

mobile phones carriers

growth of mobile ecommerce