BEIJING (Reuters) - Qualcomm Inc (O:QCOM) has signed $12 billion worth of potential deals with three Chinese mobile handset makers on the sidelines of a state visit to Beijing by U.S. President Donald Trump who has been looking to stir up U.S.-China trade.
Qualcomm signed three non-binding memorandum of understanding (MOUs) to sell components over three years to phonemakers Xiaomi, OPPO and Vivo, the U.S. Department of State said in a statement on Thursday.
Qualcomm, which earns more than half of its revenues in China, became the takeover target of rival chipmaker Broadcom Ltd (O:AVGO) earlier this week. It is also facing a lengthy legal battle with Apple Inc (O:AAPL) over patent fees it charges.