LG and Novatel Team Up

SAN DIEGO and SEOUL -- Novatel Wireless, Inc. (Nasdaq:NVTL)(Nasdaq:NVTLD), a provider of wireless data access solutions, and LG Innotek Co., Ltd., a wholly-owned subsidiary of $80 billion electronics giant, LG Group, today announced a strategic alliance. Novatel Wireless will now source a majority of its wireless data modem components from LG Innotek, who will begin manufacturing Novatel Wireless products in its state-of-the-art, cost-efficient manufacturing facility in Seoul, South Korea. The agreement, which allows Novatel Wireless to benefit from LG Innotek's enormous manufacturing power in the wireless components marketplace, also provides a strategic entry point for LG Innotek in the growing wireless data industry. While financial terms of the alliance were not disclosed, the agreement is expected to lead to a long-term partnership between the two synergistic companies, with additional details to be announced at a later date. "We've chosen to align ourselves with Novatel Wireless, a proven leader in the wireless data space, as a means of gaining exposure and expertise in a market forecasted to grow rapidly," stated Harry Kang, U.S. branch office manager of LG Innotek Co., Ltd. "While we focus on making wireless data products more cost effective, Novatel Wireless can focus on R&D and together we can deliver a compelling offering to wireless service providers and technology leaders. As partners, we believe we can be true leaders in this industry for many years to come." Novatel Wireless Inc. LG Innotek Co. Ltd.