The best kind of deal is one where both parties win. On Wednesday, December 2, Qualcomm Incorporated inked a new patent licensing agreement with Xiaomi that will allow the company, China’s second-largest smartphone maker, to develop, manufacture, and sell next-generation 3G and 4G devices.
China is one of the world’s hottest smartphone markets, and competition is fierce. Qualcomm, a leader in next-generation wireless technologies, has played a vital role in helping partners such as Xiaomi bring the future forward faster, to every corner of the globe. And once the ball gets rolling, it’s hard to stop.
“I do think that with every new licensing agreement we conclude, especially with more prominent licensees—and Xiaomi is one of them—we gain momentum,” says Eric Reifschneider, Senior Vice President and general manager of Qualcomm Technology Licensing (QTL). “It’s another sign that we are moving forward successfully with our licensing business in China.”
Here’s a look at some of the responses to yesterday’s announcement:
Qualcomm’s Xiaomi deal: It’s an easy call — Wall Street Journal
Qualcomm shares surge on licensing deal on smartphones in China — Financial Times
Qualcomm signs patent license with Xiaomi — The San Diego Union Tribune