Qualcomm to power Lenovo, Xiaomi, vivo and OPPO; signs $2 bn sales deal

Qualcomm Technologies Inc has signed memorandums of understanding for sales worth at least $2 billion with Lenovo Group, Guangdong OPPO Mobile Telecommunications Corp, Vivo Communication Technology and Xiaomi Communications.

The Chinese firms expressed an interest in buying Qualcomm components with a total value of no less than $2 billion over three years, the US chipmaker said on Thursday.

The non-binding agreement will be subject to further agreements and covers technology related to Lenovo, Xiaomi, vivo and OPPO components, it said in a statement.

The companies unveiled the multi-year agreement at a Qualcomm-hosted event in Beijing, attended by the US firm's chairman and its chief executive.