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

Technology Reuters

Steve Mollenkopf, Qualcomm CEO, speaks during his keynote address at CES in Las Vegas. (Reuters/Rick Wilking)

Qualcomm Technologies has signed memorandums of understanding for sales worth at least $2 billion with Lenovo Group, Guangdong OPPO Mobile Telecommunications, vivo Communication Technology and Xiaomi Communications.

Continue Reading Below

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 Sarkar)