Qualcomm to supply 5G chips to OPPO, Vivo, Lenovo, ZTE and Xiaomi starting 2019
Qualcomm has signed $2 billion memorandums of understanding for sales (MOUs) with Chinese companies Oppo, Vivo, Lenovo, Xiaomi, and ZTE at Qualcomm-hosted event in Beijing, China.
The aforementioned Chinese companies have agreed to purchase components worth $2 billion to Qualcomm which they will be using on their future devices in the next three years. They have also shown interest working with Qualcomm in developing 5G devices by the year 2019.
“5G will bring massive new opportunities to the mobile industry, and we are excited to work with these manufacturers on this 5G Pioneer Initiative,” said Qualcomm CEO and President Cristiano Amon. “Qualcomm Technologies has close relationships within China’s mobile and semiconductor ecosystem, and we’ll continue to work with this ecosystem to drive innovation as we move from the 3G/4G era to the 5G era.”