Last week, Broadcom, an American communications chip manufacturer, said that they had submitted an acquisition proposal to QUALCOMM. Broadcom hoped to acquire all of QUALCOMM's shares and its joint and several liabilities at a total transaction price of 130 billion dollars.

Paul Jacobs, executive chairman and chairman of the board of directors of Qualcomm Incorporated, said: "The board of directors unanimously agreed that, given the company's leadership in mobile technology and our future growth prospects, Broadcom's acquisition proposal seriously underestimated the value of Qualcomm.

Steve Mollenkoff, CEO of Qualcomm Incorporated, said: "Compared with all other companies in the semiconductor industry, Qualcomm undoubtedly has a better position in the fields of smart phones, the Internet of Things, cars, edge computing and networking technologies. As we continue to grow in these areas full of opportunities and lead the way to 5G, we are confident that we can create significant additional value for our shareholders. "

At present, QUALCOMM's official statement on the unilateral acquisition proposal of Broadcom is that the board of directors of QUALCOMM believes it is a unilateral proposal of Broadcom. In the view of the board of directors, Broadcom's proposal seriously underestimated the value of QUALCOMM, and there is huge regulatory uncertainty. The board of directors of QUALCOMM unanimously rejected Broadcom's acquisition proposal.