Recently, Qualcomm, Inc. (NASDAQ: QCOM) and OPPO Mobile Telecommunications Corp. Ltd. announced their entry into a new 3G and 4G Chinese patent license agreement (http://nnw.fm/5R6ih). OPPO now has a royalty patent license to design, produce, and sell 3G and 4G, including 3-mode complete terminals. OPPO will be responsible for paying the royalties, as was determined by the terms of the rectification plan that China’s National Development and Reform Commission received from Qualcomm.
This new agreement was put in place to bring to light Qualcomm’s continuous efforts to improve collection of technology licenses in China. The agreement will also give OPPO access to the most revolutionary technologies in the mobile industry. OPPO will be able to build state-of-the-art devices that will give its customers a more enjoyable and innovative experience.
In a recent news release, Alex Rogers, senior vice president of Qualcomm technology licensing, had this to say: “Oppo joins more than 100 other Chinese companies that have signed license agreements with Qualcomm that are consistent with terms of the rectification plan submitted by Qualcomm to the National Development and Reform Commission. As an R&D engine for the industry, we are excited to see companies such as OPPO build on our patented technologies to drive further development and innovation and create compelling products.”
Qualcomm has now signed with seven of the top 10 phone manufacturers in China. One-third of Qualcomm’s revenue is made up of patent royalties, accounting for approximately three-quarters of the company’s annual profits. Since the execution of these contracts, Qualcomm’s financial results have increased beyond Wall Street’s expectations. In addition to this, OPPO reported growth of more than 130% in second-quarter smartphone sales, making it the largest unlicensed phone maker prior to entering into the agreement with Qualcomm.
Adler Feng, director of intellectual property at OPPO, added, “The art of technology is what inspires us to create the most beautiful devices inside and out that fit everyone’s unique lifestyle.”
For more information, visit www.qualcomm.com
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing network of more than 5,000 key distribution outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, visit www.networknewswire.com.
Please see full disclaimers on the NetworkNewsWire website: http://nnw.fm/Disclaimer