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https://www.fr24news.com/a/2020/07/qualcomm-signs-patent-license-agreement-with-huawei.html
Qualcomm Incorporated has reached an agreement with Chinese telecommunications company Huawei to settle a patent dispute, the company said on Wednesday.
The global license agreement grants Huawei the return rights to some of the San Diego-based tech company’s patents starting Jan. 1, 2020, according to Qualcomm.
Qualcomm expects around $ 1.8 billion from Huawei as part of the backdated deal.
“As 5G continues to unfold, we are realizing the benefits of the investments we have made in building the broadest licensing program in mobile and turning the technical challenges of 5G into leadership opportunities and victories. commercial, ”said Steve Mollenkopf, CEO of Qualcomm, in a statement.
Qualcomm announced the deal in its third quarter earnings report. The company reported revenue of $ 4.89 billion and profit of $ 845 million for its quarter that ended Tuesday.
The company reported earnings of $ 0.74 per share, beating analysts’ expectations. For its current quarter, Qualcomm predicted earnings of between $ 1.05 and $ 1.25 per share, even with a 15% year-over-year drop in handset shipments it attributed to the coronavirus pandemic.
Qualcomm announced a similar license agreement with Apple last year.
“We have achieved profits above the top of our line, continued to execute our product and licensing business and entered into a new long-term patent license agreement with Huawei, which positions us well for the remainder of 2020. and beyond”. Mollenkopf said.
Qualcomm Incorporated has reached an agreement with Chinese telecommunications company Huawei to settle a patent dispute, the company said on Wednesday.
The global license agreement grants Huawei the return rights to some of the San Diego-based tech company’s patents starting Jan. 1, 2020, according to Qualcomm.
Qualcomm expects around $ 1.8 billion from Huawei as part of the backdated deal.
“As 5G continues to unfold, we are realizing the benefits of the investments we have made in building the broadest licensing program in mobile and turning the technical challenges of 5G into leadership opportunities and victories. commercial, ”said Steve Mollenkopf, CEO of Qualcomm, in a statement.
Qualcomm announced the deal in its third quarter earnings report. The company reported revenue of $ 4.89 billion and profit of $ 845 million for its quarter that ended Tuesday.
The company reported earnings of $ 0.74 per share, beating analysts’ expectations. For its current quarter, Qualcomm predicted earnings of between $ 1.05 and $ 1.25 per share, even with a 15% year-over-year drop in handset shipments it attributed to the coronavirus pandemic.
Qualcomm announced a similar license agreement with Apple last year.
“We have achieved profits above the top of our line, continued to execute our product and licensing business and entered into a new long-term patent license agreement with Huawei, which positions us well for the remainder of 2020. and beyond”. Mollenkopf said.
