Huawei inks largest 4G automative deal with Volkswagen supplier
Chinese conglomerate Huawei has reached a
patent license agreement with a supplier of Volkswagen Group.
According to reports, it was Luxembourg-based Rolling Wireless.
Huawei expects
more than 30 million vehicles to be licensed under its patents based on
existing license agreements.
The deal covers 4G connectivity in the vehicles.
The agreement includes a license under Huawei's 4G standard
essential patents (SEPs),
which covers Volkswagen vehicles
equipped with wireless connectivity.
This agreement marks Huawei's largest licensing deal in the
automotive industry, the company said on a statement late on Wednesday.
"As an innovative company, we own a leading patent portfolio
for wireless technologies, which creates great value for the automotive
industry. We believe this license will benefit worldwide consumers with our
advanced technology," said Song Liuping, Chief Legal Officer of Huawei.
Over the past 20 years, Huawei has entered into more than 100
patent license agreements with major global companies across Europe, the US,
Japan, and South Korea.
After facing US sanctions, the company has said it needs to
diversify in order to reverse a revenue decline.
In April, the company reported first quarter sales were down 16.5
per cent, largely because Huawei sold off its Honor smartphone brand.
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