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Qualcomm signs $12 billion in China deals amid Trump visit

BEIJING (Reuters) - Qualcomm Inc (QCOM.O) 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.

FILE PHOTO: A sign on the Qualcomm campus is seen, as chip maker Broadcom Ltd announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo

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 (AVGO.O) earlier this week. It is also facing a lengthy legal battle with Apple Inc (AAPL.O) over patent fees it charges.


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