Qualcomm has signed a $2 billion memorandum of understanding (MoU) between Chinese smartphone giants namely Lenovo, Xiaomi, Oppo, Vivo, and ZTE in its own Technology Day event.
The companies mentioned above have agreed to purchase Qualcomm components with a total value of the aforementioned amount above. This will be integrated to the company’s respective future products for the next three years.
Brands from the list have also shown an interest for the development of 5G technology with Qualcomm.
The non-binding agreement is subject to further agreements and covers technology related to RF Front-End components.
Cristiano Amon, president of Qualcomm Incorporated said: “Qualcomm Technologies has long supported the Chinese mobile ecosystem and today’s MoU signings with Lenovo, OPPO, vivo and Xiaomi further demonstrates our commitment to that ecosystem, as well as our strategy to continue to grow our RF front-end business. Our robust RF front-end solutions help these OEMs to not only build power-efficient devices at scale in a cost-effective way, but also to deliver advanced mobile devices to consumers not just in China, but around the world.”
“5G will bring massive new opportunities to the mobile industry, and we are excited to work with these manufacturers on this 5G Pioneer Initiative. Qualcomm Technologies has close relationships within China’s mobile and semiconductor ecosystem, and we’ll continue to work with this ecosystem to drive innovation as we move from the 3G/4G era to the 5G era,” Amon shared.