Qualcomm signs $2B MoU with Lenovo, Xiaomi, vivo, Oppo, and ZTE

Qualcomm has signed memorandums of understanding for sales with Lenovo, Oppo,Vivo,ZTE, Watech and Xiaomi. The Chinese companies expressed interest in purchasing $2 billion worth of components in the next three years.

The companies also agreed to work together in developing 5G-compliant commercial devices by 2019.

The announcement happened at a special Qualcomm-hosted event in Beijing, where the non-binding agreement was revealed. Reuters reports that it was attended by Cristiano Amon and Steven Mollenkopf, senior executives at the San Diego Company along with high-profile figures from the Chinese companies.


source; www.gsmarena.com

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