Qualcomm Incorporated (NASDAQ: QCOM) and VinSmart, a wholly owned subsidiary of Vingroup, today announced they have entered into a Patent Licensing Agreement which covers multimode complete terminals (the “Agreement”). Under the terms of the Agreement, Qualcomm has granted VinSmart a royalty-bearing patent license to develop, manufacture and sell branded multimode complete terminals such as 4G/5G smartphones. The royalties payable by VinSmart are consistent with the terms of Qualcomm’s branded multimode licensing framework disclosed this past year.
Vingroup, the parent company of VinSmart, is the largest private conglomerate in Vietnam with a diverse set of eight business segments,including Technology, Industrial, Property, Hospitality and Entertainment, Consumer Retail, Healthcare, Education and Agriculture.
With this Agreement, VinSmart joins the growing list of key OEMs around the world to have direct access to Qualcomm’s breakthrough technologies. VinSmart will have access to Qualcomm’s broad patent portfolio for the development of complete multimode terminals.
Entering into this Agreement will help VinSmart enhance its capabilities to develop, manufacture and commercialize mobile devices and solutions based on Qualcomm’s industry-leading technologies. This development also illustrates how Qualcomm’s business model is enriching the mobile ecosystem. Together, VinSmart and Qualcomm will further benefit Vietnam’s economic development by participating in the government’s program for Industry 4.0 and Vietnam’s transition to a digital economy.
“Qualcomm is committed to growing the mobile ecosystem in Vietnam,” said Nam Thieu, senior director, business development and Vietnam country manager, Qualcomm International, Inc. “We are proud to have the opportunity to collaborate with VinSmart to enable advanced mobile devices and services powered by our foundational technologies for the people of Vietnam.”
“Qualcomm is pleased to enter into this landmark agreement with VinSmart,” said John Han, senior vice president and general manager, Qualcomm Technology Licensing. “With access to our diverse and ever-expanding technology patent portfolio, VinSmart will now be able to develop and market compelling 3G/4G/5G devices powered by Qualcomm’s leading mobile technologies both in Vietnam and abroad.”
“The strategic agreement with Qualcomm will accelerate VinSmart’s vision to be the next significant smart device company in the world. In addition to the agreement, we will leverage Qualcomm’s innovative technologies to develop an ecosystem of electronic devices and smart solutions based on cutting-edge technologies such as 5G and AI, which will provide a comfortable and modern life for the people of Vietnam,” said Mr. Nguyen Viet Quang, Vice Chairman cum CEO of Vingroup. “The collaborative synergy with Qualcomm will offer significant value to Vingroup’s plan to become an international-standards technology-industry-service conglomerate by 2028.” VinSmart plans on launching its first 4G/LTE smartphones today, to launch the company’s aggressive expansion into the smart electronic devices space.
