Qualcomm Technologies Inc signs non-binding MOU with 4 Chinese companies worth $2 billion

The agreement, spanning several years, covers areas of technology related to RF Front-End components.

Qualcomm Technologies Inc stated it has signed memorandums of understanding (MOU) for sales worth at least $2 billion with Xiaomi Communications, Lenovo Group, Vivo Communication Technology and the Guangdong OPPO Mobile Telecommunications Corp.

On Thursday, the U.S. chipmaker disclosed that the Chinese firms have expressed an interest in buying Qualcomm’s components with a total value of no less than $2 billion over the next three years.

It further stated that its non-binding agreement, subject to further future agreements, covers areas of technology related to RF Front-End components.

The Chinese companies unveiled their agreement spanning multiple years with Qualcomm at an event hosted in Beijing which was attended by the U.S. firm’s chairman and its chief executive.

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