Qualcomm signs $12 billion in China deals amid Trump visit

Technology Reuters

(Reuters/Mike Blake)

Qualcomm has signed $12 billion worth of potential deals with three Chinese mobile handset makers on the sidelines of a state visit to Beijing by U.S. President Donald Trump who has been looking to stir up U.S.-China trade.

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Qualcomm signed three non-binding memorandum of understanding (MOUs) to sell components over three years to phonemakers Xiaomi, OPPO and Vivo, the U.S. Department of State said in a statement on Thursday.

Qualcomm, which earns more than half of its revenues in China, became the takeover target of rival chipmaker Broadcom earlier this week. It is also facing a lengthy legal battle with Apple over patent fees it charges.

 

(Reporting By Matthew Miller; Editing by Muralikumar Anantharaman)