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Benzinga
Benzinga
Business
Anusuya Lahiri

Borqs Shares Soar After Revised Licensing Deals With Qualcomm

Qualcomm Nasdaq QCOM Qualcomm Inc
  • Borqs Technologies Inc (NASDAQ:BRQS) forged revised licensing agreements with Qualcomm Inc (NASDAQ:QCOM).
  • Borqs is a global provider of 5G wireless solutions, Internet of Things (IoT) solutions, and innovative clean energy.
  • The agreements include purchasing the 5G patent licensing. 
  • These agreements enable Borqs to design and manufacture 5G products based on Qualcomm's latest technologies for customers worldwide. 
  • The global 5G services market will likely reach $1.67 trillion by 2030, registering a CAGR of 52.0% from 2022 to 2030.
  • The expansion of 5G usage in connection with the Qualcomm 5G platforms will continue to make 5G more robust for adaptations beyond smartphones and extend into home connectivity, computing, industrial equipment, power grid management, and more.
  • Price Action: BRQS shares traded higher by 39.9% at $0.24 on the last check Thursday.
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