Lenovo, Xiaomi, Vivo, ZTE, Watech signs a $2B MoU with Qualcomm
The Chinese companies expressed interest in purchasing $2 billion worth of components over the next three years.
The companies have come to an agreement to work together in developing 5G-compliant commercial devices and smartphone by the year 2019.
The announcement was made at a special Qualcomm-hosted event in Beijing, China, where the agreement was revealed. According to Reuters the event was attended by Cristiano Amon, Steven Mollenkopf and other senior executives of the San Diego company, along with senior executives from the Chinese companies.
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