Qualcomm's Stock Jumps Higher Following New Patent License Agreements

Shares of QUALCOMM, Inc. (NASDAQ: QCOM) were trading higher by nearly 2 percent Tuesday morning after the company announced it has entered into a new 3G and 4G Chinese Patent License Agreement with Haier, a Chinese-based home appliances and consumer electronics brand.

As part of the agreement, Qualcomm has granted Haier a royalty-bearing patent license to develop, manufacture, and sell 3G and 4G subscriber units for use in China.

Qualcomm also announced a new 3G and 4G Chinese patent license agreement with Beijing Tianyu Communication Equipment Co.

Similarly, Qualcomm has granted Tianyu a royalty-bearing patent license to manufacture and sell 3D and 4G subscriber units in China.