Qualcomm Incorporated (NASDAQ: QCOM) and Xiaomi, a leading Chinese smartphone and Internet company, today announced that they have entered into a new 3G and 4G China patent license agreement. Under the terms of the agreement, Qualcomm has granted Xiaomi a royalty-bearing patent license to develop, manufacture and sell 3G (WCDMA and CDMA2000) and 4G, including 3-mode (LTE-TDD, TD-SCDMA and GSM), complete devices. The royalties payable by Xiaomi are consistent with the terms of the rectification plan submitted by Qualcomm to China’s National Development and Reform Commission.

“Xiaomi prides itself on embracing and leading smartphone innovation through its popular line of Mi devices,” said Lei Jun, CEO of Xiaomi. “A license from Qualcomm will play an important role in helping us bring the newest and most innovative products to our growing customer base.”

“Qualcomm is committed to the success of its partners in China as they continue to grow their businesses and we are pleased to reach this new agreement with Xiaomi,” said Derek Aberle, President of Qualcomm Incorporated. “We work closely with our partners, such as Xiaomi, to push the boundaries of what’s possible and drive the advancement of the mobile industry.”

About Xiaomi

Xiaomi was founded in 2010 by serial entrepreneur Lei Jun, who believes that high-quality technology doesn't need to cost a fortune. We create remarkable hardware, software, and internet services for and with the help of our Mi fans. We incorporate their feedback into our product range, which currently includes the Mi Note Pro, Mi Note, Mi 4, Redmi 2, Mi TV, Mi Band and other accessories. With more than 61 million handsets sold in 2014, and products launched in Taiwan, Hong Kong, Singapore, Malaysia, Philippines, India, Indonesia and Brazil, Xiaomi is expanding its footprint across the world to become a global brand.

About Qualcomm

Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm’s licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm’s engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 30 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm’s website, OnQ blog, Twitter and Facebook pages.