When there are various speculations about the acquisition of US-based chip-set manufacturing giant Qualcomm in the market, we came across the company’s mega deal with Chinese smartphone companies. Qualcomm Signs $12 Bn Mega Deal with Three Chinese Mobile Manufacturers Xiaomi, OPPO & VIVO. Qualcomm has made formal announcement about this deal that it has signed 3 non-binding MOUs with OPPO, Xiaomi and VIVO.
The public announcement and signature of the billion-dollar deal was conducted at the Chinese capital’s Great Hall of the People.
Qualcomm Signs $12 Bn Mega Deal with Three Chinese Mobile Manufacturers Xiaomi, OPPO & VIVO
This mega deal is outcome of the President Trump visit to China and a part from this deal US as a whole has made $250 billion agreement with Chinese Government.
Qualcomm CEO, Steve Mollenkopf said about this deal that:
“The move fit with China’s own ambitions to boost its domestic industry. “We are continuing our commitment to investing and helping advance China’s mobile and semiconductor industries.”
After completion this agreement could turn out to be one of the most significant deal among any chip-set and smartphone manufacturing company. All the involved companies will share further details about the deal in coming days.
Source: Telecom Review