Qualcomm Incorporated (NASDAQ: QCOM) and Xiaomi, a leading Chinese smartphone and Internet company, today announced that they have entered into a new 3G and 4G China patent license agreement. Under the terms of the agreement, Qualcomm has granted Xiaomi a royalty-bearing patent license to develop, manufacture and sell 3G (WCDMA and CDMA2000) and 4G, including 3-mode (LTE-TDD, TD-SCDMA and GSM), complete devices. The royalties payable by Xiaomi are consistent with the terms of the rectification plan submitted by Qualcomm to China’s National Reform and Development Commission.
“Xiaomi prides itself on embracing and leading smartphone innovation through its popular line of Mi devices,” said Lei Jun, CEO of Xiaomi. “A license from Qualcomm will play an important role in helping us bring the newest and most innovative products to our growing customer base.”
“Qualcomm is committed to the success of its partners in China as they continue to grow their businesses and we are pleased to reach this new agreement with Xiaomi,” said Derek Aberle, President of Qualcomm Incorporated. “We work closely with our partners, such as Xiaomi, to push the boundaries of what’s possible and drive the advancement of the mobile industry.”