SoftBank, the world’s biggest technology firm, and Qualcomm have teamed up to open up a new business.
The new joint venture aims to build out the smartwares for both companies.
“The launch of SoftBank’s ‘Smart Phone’, powered by Qualcomm’s Snapdragon mobile platform, will be the largest such venture in South-Korea’s history, surpassing the $30 billion deal between SoftBank Group and Qualcomm in 2016,” a company statement reads.
It also states that the two companies will collaborate in areas including product development, sales and marketing.
The announcement comes a day after the two firms unveiled their new smartwalls, a partnership that Qualcomm and SoftBank say will help connect more than 5 billion users to the internet.