We live in a world in which technological companies continue to compete with each other to produce the latest smartphones and advanced gadgets. Tech-leading brands with smart marketing strategies prefer to make bonds by signing significant agreements to prosper together.
The Chinese tech giant Huawei
announced a Cross-Licensing Agreement with OPPO
in a short press release on Friday, 9th December. The signed global patent agreement includes a number of technologies, including 5G, Wi-Fi, and audio/video codecs.
Cross-licensing agreements are used when two or more brands combine to benefit mutually from each other. This contract allows participants to use the intellectual property of the other patent.
Mostly, these agreements become the source of bringing multiple advantages on a large scale to any brand. Several tech giants companies, like Apple
and Microsoft, signed long-term cross-licensing agreements to enjoy each other's strengths and overcome their own shortcomings.
Huawei has been providing services in the tech industry for more than 20 years, and this is certainly not the first time it has signed a cross-licensing paper. The US government has made its laws strict and banned new equipment sales from Huawei. This US sanction drags Huawei away from the limelight and proves its potential. Therefore, tech geeks around the world expect this agreement to be more beneficial to the Chinese brand by allowing access to 5G technologies.
Huawei and OPPO Positive Feedback
Both the companies, Huawei and OPPO, have shared their welcoming statement and encouraging stance for the other company with immense respect for the worthy patents. The statement, portrays that it’s a winning situation for both companies to flourish together by uplifting each other.
According to OPPO Chief Intellectual Property Officer, Adler Feng,
"We are very pleased to enter into patent cross-licensing agreement with Huawei. It clearly demonstrates that the two companies recognize and greatly respect the value of each other's intellectual property. It is a win-win deal for both sides."
According to Huawei, Head of the Intellectual Property Department, Alan Fan,
"We are delighted to have reached a cross-licensing agreement with OPPO. The mutual recognition of intellectual property value between companies is a major step towards fostering a positive cycle of innovation and research in high-value standards: investing, receiving returns from investment, and then reinvesting. This will enable our industry to keep innovating and provide consumers with more competitive products and services."
Unfortunately, the authorities didn't reveal much information or keen details about the shared patents. However, we hope that this agreement will result in notable improvements in the tech industry.