July 8, 2021

Huawei announced Wednesday that it has signed a patent licensing agreement with an unnamed supplier of parts for Volkswagen, amid speculation in reports that it is Luxembourg-based Rolling Wireless.

The deal includes 4G connectivity in the vehicles, with Huawei predicting that 30 million vehicles will eventually have their patent licenses.

The Chinese company said its biggest business was with the automotive industry.

In April, Huawei reported a 16.5% drop in first-quarter revenue, but earnings were expected because the company sold its Honor brand in 2020.

While revenue declined, margins increased due to a $600 million patent license and ongoing efforts to improve the quality of operations and management efficiency, the company said in an earlier release.

For more information, read the original story in ZDNet.