Qualcomm to invest in 4 Chinese firms
Print Edition
QUALCOMM Inc will invest US$40 million in four Chinese companies and a China-focused high-tech fund, the world’s top mobile chip designer said yesterday.
The four companies are 7Invensun, an eye-tracking solution provider; Chukong Technologies, a mobile entertainment platform provider; inPlug, a smart home platform provider; and Unisound, a voice recognition firm.
“We look forward to working with these innovative companies to provide financial, marketing, technology and business support to help propel them forward in the competitive wireless ecosystem,” Nagraj Kashyap, senior vice president of Qualcomm Ventures, said in a statement.
Qualcomm, which is being investigated for anti-monopoly practices by Chinese regulators for charging local firms “unreasonably high” license fees, has also invested in China Walden Ventures Investment. It’s a fund with investments in semiconductor, the Internet, digital media, software and IT services.
The investments were the latest move for Qualcomm to expand in the Chinese market, the world’s biggest mobile phone market.
In July, Qualcomm unveiled a new US$150 million investment fund in China that will focus on local startup companies in mobile technologies.
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