Qualcomm signs new licensing pact with Xiaomi

Qualcomm has signed a new licensing pact with Xiaomi.
Qualcomm Inc signed a licensing pact with Xiaomi Technology Co Ltd that allows the Chinese smartphone maker to use its patents to make and sell 3G and 4G devices.
Xiaomi has enjoyed a rapid rise with handsets it touts as cheaper but well-designed alternatives to Apple Inc’s iPhones. Shares of Qualcomm rose 6.8 percent to $52.65 in early trade on Wednesday.
Under the agreement, the royalties payable by Xiaomi are consistent with terms o