Qualcomm Signs $2 Billion Sales MOUs With Lenovo, Xiaomi, Vivo and Oppo

Qualcomm has signed memorandums of understanding for sales worth at least $2 billion (roughly Rs.  12,700 crores) with Lenovo, Guangdong Oppo Mobile Telecommunications, Vivo 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 US 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 US firm's chairman and its chief executive.

© Thomson Reuters 2018