Qualcomm signs $2 bln sales MOUs with Lenovo, Xiaomi, vivo and OPPO
Qualcomm Technologies Inc has signed memorandums of understanding for sales worth at least $2 billion with Lenovo Group, Guangdong OPPO Mobile Telecommunications Corp, vivoBSE -2.21 % 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 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.