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Qualcomm Signs $2 Billion Sales MOUs With Lenovo, Xiaomi, Vivo and OPPO

The non-binding agreement will be subject to further agreements and covers technology related to RF Front-End components.

Reuters

Updated:January 25, 2018, 3:35 PM IST
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Qualcomm Signs $2 Billion Sales MOUs With Lenovo, Xiaomi, Vivo and OPPO
(photo for representation, image: Reuters)
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Qualcomm Technologies Inc has signed memorandums of understanding for sales worth at least $2 billion with Lenovo Group, Guangdong OPPO Mobile Telecommunications Corp, vivo Communication Technology and Xiaomi Communications.

The Chinese firms expressed an interest in buying Qualcomm components with a total value of no less than $2 billion over three years, the U.S. chipmaker said on Thursday.

The non-binding agreement will be subject to further agreements and covers technology related to RF Front-End components, it said in a statement. The companies unveiled the multi-year agreement at a Qualcomm-hosted event in Beijing, attended by the U.S. firm's chairman and its chief executive.

In another news, Qualcomm has also been fined $1.2 billion over exclusivity deal with Apple by the European Union.

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| Edited by: Sarthak Dogra
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