<SUBMISSION>
<ACCESSION-NUMBER>0001170918-03-000653
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20031201
<FILING-DATE>20031210
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>GETZ ROBERT
<CIK>0001201623
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-31659
<FILM-NUMBER>031048334
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>717 FIFTH AVE.
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>ROSSI MARK
<CIK>0001201624
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-31659
<FILM-NUMBER>031048335
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>717 FIFTH AVE.
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>NOVATEL WIRELESS INC
<CIK>0001022652
<ASSIGNED-SIC>7370
<IRS-NUMBER>860824673
<STATE-OF-INCORPORATION>DE
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>9255 TOWNE CENTRE DR
<STREET2>SUITE 225
<CITY>SAN DIEGO
<STATE>CA
<ZIP>92121
<PHONE>8583208800
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>9255 TOWNE CENTRE DR
<STREET2>SUITE 225
<CITY>SAN DIEGO
<STATE>CA
<ZIP>92121
</MAIL-ADDRESS>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>CORNERSTONE EQUITY INVESTORS IV LP
<CIK>0001027117
<STATE-OF-INCORPORATION>DE
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-31659
<FILM-NUMBER>031048336
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>717 FIFTH AVENUE
<STREET2>SUITE 1100
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
<PHONE>2127350901
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>171 FIFTH AVENUE
<CITY>NEW YORK
<STATE>NY
<ZIP>10022
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>nwi03-035_ex.xml
<TEXT>
<XML>
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<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
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    <documentType>4</documentType>
   <periodOfReport>2003-12-01</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001022652</issuerCik>
        <issuerName>NOVATEL WIRELESS INC</issuerName>
        <issuerTradingSymbol>NVTL</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001027117</rptOwnerCik>
            <rptOwnerName>CORNERSTONE EQUITY INVESTORS IV LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>717 FIFTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>1</isTenPercentOwner>
         <isOther>0</isOther>
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   </reportingOwner>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001201624</rptOwnerCik>
            <rptOwnerName>ROSSI MARK</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>717 FIFTH AVE.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
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   </reportingOwner>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001201623</rptOwnerCik>
            <rptOwnerName>GETZ ROBERT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>717 FIFTH AVE.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
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   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock, $0.001 par value per share</value>
      </securityTitle>
      <transactionDate>
         <value>2003-12-01</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-12-01</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>C</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>402083</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>.70</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>695536</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Common Stock Purchase Warrants</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>0.7</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-12-01</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-12-01</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>C</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>71428</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-08-28</value>
      </exerciseDate>
      <expirationDate>
         <value>2008-09-12</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>71428</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>161458</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
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   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>Common Stock Purchase Warrants</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>0.7</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-12-01</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-12-01</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>C</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>330655</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-08-28</value>
      </exerciseDate>
      <expirationDate>
         <value>2008-11-14</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>330655</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>161458</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <remarks>The holder of record of these securities is Cornerstone Equity Investors IV, L.P., the managing general partner of which is Cornerstone Equity Investors, LLC (&quot;CEI&quot;).  Two of our directors, Mark Rossi and Robert Getz, are managing directors of CEI and may be deemed beneficially to own these securities.  Each disclaims beneficial ownership except to the extent of his pecuniary interest.  On December 1, 2003, CEI exercised warrants to purchase an aggregate of 402, 083 shares of common stock for an aggregate cash exercise price  of $281,458. The shares of common stock issued as a consequence thereof  are currently restricted common stock.</remarks>
   <ownerSignature>
      <signatureName>/s/ Patrick T. Waters, Attorney-in-Fact</signatureName>
      <signatureDate>2003-12-10</signatureDate>
   </ownerSignature>
</ownershipDocument>

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</TEXT>
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</SUBMISSION>
