Qualcomm announced today in a press release it is expanding its relationship with Samsung as technology partners. The two companies signed a multi-year strategic agreement over various technology areas across a range of mobile devices. Steve Mollenkopf, CEO of Qualcomm, said later:
Qualcomm has enjoyed a strong partnership with Samsung for many years, and we are pleased to further strengthen and extend our relationship through this amended cross-license agreement, alongside our continuing relationship as a key product supplier to Samsung.
The agreement covers smartphones like the upcoming Galaxy devices and infrastructure equipment. Samsung will also withdraw its interventions in Qualcomm’s trial against the Korean Free Trade Commission fine of KRW1.03 trillion (approx. $963 million) for unfair business practices.
Although both companies did not reveal any details about the partnership, they are said to be working together on the transition to 5G.
The deal comes just seven days after the announcement that Qualcomm signed a memorandum of understanding for purchasing $2 billion worth of components with 6 Chinese companies, including Oppo, vivo, Xiaomi, and Lenovo.