Qualcomm signs $2 bn sales MoUs

NEW YORK: Qualcomm Technologies Inc has signed memorandums of understanding for sales worth at least $2 billion with Lenovo Group, Guangdong OPPO Mobile Telecommunications Corp, 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. The firms unveiled the multi-year pact at a Qualcomm-hosted event in Beijing. — Reuters