Chinese firms Oppo and Huawei have entered a global patent cross-licensing agreement. The new agreement covers cellular communications standards including 5G communications. Oppo’s Feng Ying (Chief Intellectual Property Officer) said the brand is pleased to have reached a cross-licensing agreement with Huawei. The agreement, according to Ying, fully reflects the respect and recognition of both Huawei and Oppo for each other’s intellectual property strength.
The new agreement is a win-win for both companies. It puts both entities in an advanced setting to leverage their strength for maximum business impact. The agreement advocates the settling of intellectual property licensing issues through friendly consultations and mutual respect for patent value. Huawei says it has formed several high-value patent packages during the past two decades and it is very happy to reach the cross-licensing agreement. Huawei expects the new arrangement to promote the innovation cycle of investment-return-reinvestment in high-value standard research.
Huawei has several patent packages that include 5G, Wi-Fi, audio, and video. The new agreement will promote innovation, and rapidity of research globally. It will also provide more competitive products and services for consumers. Both companies will hope that the new cross-licensing agreement will signal the beginning of a period of rapid growth and development. The agreement will be highly beneficial to Huawei since the US clampdown on its operations.
Prior to the US clampdown, Huawei was the global leader in research on 5G and 6G. It had carved a niche for itself with a raft of contracts for infrastructure across several jurisdictions. The finer details of the new cross-licensing agreement are not known at this time. However, we expect both brands to fully utilize the provisions of the agreement for the ultimate expansion of their balance sheets.
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