Qualcomm Incorporated (NASDAQ: QCOM) said it has entered into a new 3G and 4G Chinese patent license agreement with Haier, a leading Chinese home appliances and consumer electronics brand.
Under the terms of the agreement, Qualcomm has granted Haier a royalty-bearing patent license to develop, manufacture and sell 3G WCDMA and CDMA2000 (including EV-DO) and 4G LTE (including “3-mode” GSM, TD-SCDMA and LTE-TDD) subscriber units for use in China. The royalties payable by Haier are consistent with the terms of the rectification plan submitted by Qualcomm to China´s National Development and Reform Commission.
Founded in 1984, the Haier Group has been dedicated to innovation and creating a world famous brand over the past 26 years. Originally a small collective plant on the verge of bankruptcy, it has now grown into an international group which has more than 70,000 employees around the globe and realizes a turnover of 135.7 billion yuan in 2010.
Qualcomm provides 3G, 4G and next-generation wireless technologies. It includes Qualcomm´s licensing business, QTL, and the vast majority of its patent portfolio.