Qualcomm signed $ 12 billion in cooperation with 3 Chinese mobile phone vendors

Qualcomm Logo
Qualcomm has signed an agreement worth US $ 12 billion with 3 companies of mobile devices from China. This was announced when US President Donald Trump visited Beijing. Qualcomm signed 3 non-binding memorandum of understanding (MOU) to sell components for more than 3 years to Chinese smartphone makers Xiaomi, OPPO and Vivo, the company said on Thursday.

The agreement is part of a set of trade agreements between US and Chinese companies worth more than US $ 250 billion announced when Trump visits China. Trump has long attempted to lower trade relations between the US and China.

Qualcomm earned more than half of its earnings in China, becoming Broadcom's target acquisition this week. Not only that, they also have to face Apple on the green table.

Qualcomm CEO Steve Mollenkopf said Qualcomm has a long history of working with the three Chinese companies. He added that the cooperation is in line with China's ambitions to encourage their local industry.

"We will continue our commitment to invest and help the development of China's semiconductor industry and mobile devices," Mollenkopf said.

Read Also: