Huawei Sets $6 Billion In OEM Deals with Qualcomm, Broadcom, Avago

Chinese telecom giant Huawei said Friday, in an announcement timed with the visit of Chinese Vice President Xi Jinping to Los Angeles, that it is awarding $6 billion in Original Equipment Manufacturer (OEM) contracts to three California companies. Huawei said that the contracts go to San Diego-based Qualcomm, Irvine-based Broadcom, and Avago, which is based in San Jose. Huawei said the three year, OEM contracts will directly or indirectly create "tens of thousands of job opportunities" in the U.S.