Qualcomm files $240 million loss on MediaFLO

Qualcomm filed a proxy statement with the SEC reporting a $240 million loss on its MediaFLO mobile TV technology for fiscal 2007. Qualcomm Strategic Initiatives, the division charged with overseeing the MediaFLO USA subsidiary, reported the loss, which nearly doubled its 2006 MediaFLO losses of $133 million. "QSI's loss before taxes included a $118 million increase in our MediaFLO USA subsidiary's loss before taxes comprised primarily of $70 million in cost of services revenues related to the commencement of our MediaFLO services in March 2007 and a $42 million increase in selling, general and administrative expenses, including $20 million related to cooperative marketing expenses," the SEC filing states.

For more on the Qualcomm filing:
- read this InformationWeek article

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