Qualcomm Could Be Getting Closer to China Deal

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Qualcomm

(QCOM) - Get Report

said wireless carrier

China Unicom

(CHU) - Get Report

could begin awarding contracts to deploy a 10-million subscriber network using Qualcomm's CDMA technology in early 2001.

Qualcomm, which is based in San Diego, also confirmed that it signed a memorandum of understanding with China's Ministry of Information Industry to deploy its CDMA mobile phone technology in China. Qualcomm said the memorandum of understanding with Beijing's telecommunications regulatory arm will bolster efforts to build a nationwide network using the CDMA technology.

Separately, Qualcomm signed a cross-licensing agreement with

Texas Instruments

(TXN) - Get Report

covering the patents of each company.

Shares of Qualcomm were recently up 6.9% to $88.75 in trading on the

Nasdaq

, while Texas Instruments rose 0.8% to $38.13 in

New York Stock Exchange

activity.