Huawei and mobile phone manufacturer OPPO reached a patent cross-licensing agreement, and OPPO paid to authorize the use of Huawei’s 5G technology patents. Huawei is struggling to find new revenue streams after taking a hit in its mobile phone business. With a vast patent portfolio of more than 100,000 items, Huawei is one of the largest patent holders for 5G technology. Huawei previously said it would earn between $1.2 billion and $1.3 billion in revenue from licensing its intellectual property between 2019 and 2021. Huawei said it met its IP revenue forecast in 2021, but did not provide specific figures.
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