Qualcomm signs $2 billion sales MOUs with Lenovo, Xiaomi, vivo and OPPO

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(Reuters) – 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. chip maker 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. Reporting by Cate Cadell in Beijing and Subrat Patnaik in Bengaluru; Editing by Himani SarkarOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters