Sep 15, 2023 07:28 PM

BUSINESS

Huawei and Xiaomi Bury the Patent Hatchet

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What’s new: Huawei Technologies Co. Ltd. has finalized a global cross-licensing patent agreement with Xiaomi Corp., settling a legal dispute over four Huawei patents involving 4G and handset technologies.

The agreement covers multiple technologies including 5G, Huawei said in a statement on Wednesday.

The background: The deal comes as Huawei is trying to bring in more revenue from licensing its patents after its once-lucrative smartphone business was crippled by U.S. sanctions.

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