Qualcomm said on Tuesday that it has entered into a new five-year patent license agreement with LG Electronics to develop, manufacture and sell 3G, 4G and 5G smartphones.
“Qualcomm is pleased to enter into a new global patent license agreement with LGE,” said John Han, senior vice president and general manager, Qualcomm Technology Licensing. “This agreement builds on our long-standing technology relationship and reaffirms the value of Qualcomm’s world-class patent portfolio. Qualcomm is the developer and enabler of foundational technologies for the wireless industry and is the leader in the transition to 5G. We are proud to make our breakthrough technologies available to leading OEMs like LGE and to support them in delivering compelling products around the world.”
LG had said in June it was unable to narrow differences with Qualcomm and renew its chip license agreement.
Qualcomm in April also reached a surprise settlement that cleared the road for iPhones to once again use its modem chips, but its shares were hurt in July when Apple bought Intel’s modem business for $1 billion.