Qualcomm signs patent-licensing agreement with Xiaomi

Chipmaker Qualcomm said it had signed a patent-licensing deal with Chinese smartphone maker Xiaomi, another in a string of agreements with Chinese firms including Huawei Technologies, TCL Communication Technology Holdings and ZTE, The Wall Street Journal reported, citing Qualcomm President Derek Aberle. The firm gets more than half its profit from licensing patents, and customers in China accounted for more than half of total revenue during the company’s fiscal year ended in September. However, financial terms for the new deal weren’t disclosed, and it remains unclear how new licensing formulas for China – reached as part of an antitrust settlement in November – will impact Qualcomm’s finances.