Qualcomm shares tick higher on Lenovo patent agreement

Qualcomm Inc. shares rose in the extended session Thursday after the chipmaker said it entered into a patent licensing agreement with China's Lenovo Group Ltd. . Qualcomm shares advanced 1.2% to $49.65 after hours. Under the agreement, Lenovo gets a royalty-bearing patent license from Qualcomm to develop, make, and sell certain 3G and 4G mobile devices under the Motorola and Lenovo brands. Qualcomm did not release financial details of the deal.

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