Chipmaker Qualcomm in $280m joint venture with Chinese province

Visual sourced from Qualcomm website

Qualcomm Inc and the provincial government of Guizhou in southwest China unveiled on Sunday a $280 million joint venture for the design, development and sale of advanced server technology, as the U.S. chipmaker deepens its Chinese relations.

Qualcomm officials in Beijing signed a strategic cooperation agreement with the government of Guizhou province and announced the Guizhou Huaxintong Semi-Conductor Technology Co Ltd, a joint venture with initial capital of 1.85 billion renminbi.

Qualcomm also will establish an investment company in Guizhou that will serve as a vehicle for future investments in China, the company and the provincial government said in a statement.

The joint venture, cooperation agreement and formation of an investment company are important steps for Qualcomm as it deepens its cooperation and investment in China, said Derek Aberle, president of Qualcomm Inc.

Aberle said that in addition to its capital investment, Qualcomm was licensing its server technology to the joint venture, assisting with research and development and would supply expertise to implement the project.

“This underscores our commitment as a strategic partner in China,” Aberle said in the statement.

Also Read: Qualcomm, Japan’s TDK in $3b JV to make parts for wireless tech

Qualcomm sticks to status quo, not to split chipmaking, tech licencing biz

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.