US Stock Movement | Qualcomm (QCOM.US) rises more than 4% in pre-market trading after reaching a multi-year patent licensing agreement with Huawei
Huawei and Qualcomm (QCOM.US) announced on Monday that they have reached a comprehensive multi-year patent licensing agreement.
According to Zhitong Finance APP, Huawei and Qualcomm (QCOM.US) announced on Monday that they have reached a broad, multi-year patent licensing agreement. The agreement includes cross-licensing of the two parties’ patent portfolios in several fields such as 5G, computing, artificial intelligence, and networking, as well as Qualcomm acquiring some of Huawei's US patents. The transaction will be completed after obtaining necessary regulatory approvals. As of press time, Qualcomm's pre-market shares have risen more than 4%.
According to reports, this is the first patent licensing agreement between Huawei and Qualcomm that covers 5G technology. Huawei stated that upon completion of this transaction, the total value of its patent licensing agreements is expected to exceed $6.9 billion.
Huawei noted that since 2021, its intellectual property licensing business has achieved positive revenue, reflecting its continued investment in R&D over the years.
Huawei first paid licensing fees to Qualcomm in 2001 and received its first licensing income from Motorola in 2011. Prior to reaching this agreement with Qualcomm, Huawei announced in August this year that it had also reached a patent licensing agreement with Hewlett-Packard.
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