Qualcomm Technologies has been supporting Chinese Mobile ecosystem for about 25 years now. It has invested highly in China by increasing branches, Joint Ventures and R&D Centers in the country.
Today, Qualcomm Technologies Inc. has signed three non-binding Memoranda of Understanding (MOU) with Xiaomi Communications Col Ltd, Guangdong OPPO Mobile Telecommunications Corp., and Vivo Communication Technology CO. Ltd.
With this MOU, each of these company shows a nonbinding interest in purchasing components from Qualcomm with aggregate value not less that $12 billion over next three years.
The MOU was signed at a ceremony held at the Great Hall of the People in Beijing, lead by President of the Peole’s Republic of China Xi Jinping and US President Donald Trump. Xiaomi CEO Lei Jun, OPPO CEO Chen Mingyong and Vivo CEO Shen Wei attended and signed for their respective companies.
The United States president Donald Trump lead Department of Commerce Trade Delegation to China. Qualcomm’s CEO Steve Mollenkopf is part of this delegation.
Steve Mollenkopf, chief executive officer, Qualcomm Incorporated commented –
I’m honored to represent Qualcomm as part of this important Trade delegation, which showcases the importance of win-win business relationships between the U.S. and China. Qualcomm has longstanding relationships with Xiaomi, OPPO and vivo and we are continuing our commitment to investing and helping advance China’s mobile and semiconductor industries.