Qualcomm has announced a new partnership with Samsung that it hopes will help spur research into 5G.
The chipmaker has revealed an expansion to its patent cross-licensing agreement that will see it work closely with Samsung in developing and producing next-generation hardware needed to power what it called, "the transition to 5G" networks.
The deal forms part of what the two companies called a "multi-year strategic relationship" which will come into operation across many different areas of technology, including 5G and future mobile devices.
“The announcement today underscores the importance of our longstanding strategic relationship with Samsung in driving core mobile technology into many different segments,” said Cristiano Amon, president, Qualcomm Incorporated.
“As Qualcomm continues to lead the world to 5G, the opportunities between our companies are growing and this agreement sets us both on a path for continued success.”
“We value our strategic relationship with Qualcomm Technologies,” said TM Roh, executive vice president and the head of mobile R&D, Samsung Electronics. “And look forward to working together to deliver leading technologies in the years ahead.”
As part of the deal, Samsung will also be "withdrawing its interventions" into Qualcomm's appeal against a $868m fine levied against it by the Korean Fair Trade Commission back in 2016 over what it called "excessive" licensing fees.
The news came as Qualcomm revealed its latest set of financial results, with both profits and revenues beating analyst expectations.
However licensing revenues dropped 28 per cent following the company's dispute with Apple, which saw the latter sue Qualcomm for $1 billion in promised rebates following accusations that the company overcharged for its chips.