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In addition to the historical information contained therein, these materials contain forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding company, industry, geographic, product, technology or demand projections, estimates, forecasts, trends, growth or opportunities, and our positioning to capitalize thereon; our business or financial performance, drivers, outlook, expectations, projections, estimates, guidance, forecasts, trends or growth; our capital return, stock repurchase and/or dividend programs; our business or growth initiatives or strategies, including 5G, RF Front End (RFFE) and adjacent businesses such as automotive, IoT, security and networking, and our investments therein and positioning to take advantage thereof; our technologies or technology leadership, products or product leadership, or product roadmap; future products, solutions, technologies, innovations, features or functionality; our licensing compliance and reporting challenges and our progress, expectations and intentions with respect to resolving those challenges, and the timing thereof, as well as the impact on our business and financial results; and expectations, projections, estimates, forecasts, trends or growth related to, among others, revenues, earnings per share (EPS), MSM chip shipments, operating margins, expenses, effective tax rates, or 3G/4G device average selling prices (ASPs), sales and shipments, and the factors and assumptions underlying such expectations, estimates and guidance. Forward-looking statements are generally identified by words such as "estimates," "guidance," "expects," "anticipates," "intends," "plans," "believes," "seeks" and similar expressions.
Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to risks associated with commercial network deployments, expansions and upgrades of CDMA, OFDMA and other communications technologies, our customers' and licensees' sales of products and services based on these technologies, and our customers' demand for our products and services; competition in an environment of rapid technological change; our dependence on a small number of customers and licensees; our dependence on the premium-tier device segment; attacks on our licensing business model, including current and future legal proceedings and governmental investigations and proceedings, or actions of quasi-governmental bodies or standards or industry organizations; potential changes in our patent licensing practices, whether due to governmental investigations, private legal proceedings challenging those practices, or otherwise; the enforcement and protection of our intellectual property rights; our ability to extend our technologies, products and services into new and expanded product areas and adjacent industry segments; risks associated with operation and control of manufacturing facilities acquired through the formation of our joint venture, RF360 Holdings; the continued and future success of our licensing programs, which requires us to continue to evolve our patent portfolio, and which may be impacted by the proliferation of devices in new industry segments such as automotive and IoT, and the need to extend license agreements that are expiring; our dependence on a limited number of third-party suppliers; claims by third parties that we infringe their intellectual property; strategic acquisitions, transactions and investments or our inability to consummate planned strategic acquisitions; cost reduction plans; our compliance with laws, regulations, policies and standards; our use of open source software; our stock price and earnings volatility; our indebtedness and our significant stock repurchase programs; security breaches or other misappropriation of our intellectual property or proprietary or confidential information; potential tax liabilities; global, regional or local economic conditions that impact the industries in which we operate; our ability to attract and retain qualified employees; foreign currency fluctuations; and failures in our products or services or in the products or services of our customers or licensees, including those resulting from security vulnerabilities, defects or errors.
These and other risks are set forth in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC). Our reports filed with the SEC are available on our website at www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.