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BEIJING—China’s antitrust regulator has approved Qualcomm Inc.’s joint venture with a unit of China’s state-owned Datang Telecom Technology Co. to design smartphone chipsets, people familiar with the matter said, a win for the U.S. chip maker amid escalating U.S.-China trade friction.
The proposed joint venture was announced a year ago, but only this week approved by China’s antitrust regulator, the people said.
The venture would be formed between Qualcomm and Datang’s subsidiary Leadcore Technology Co., as well as Jianguang Asset Management Co. and Wise Road Capital, Qualcomm has said. It would compete with companies producing processors for low-cost smartphones, including China’s Spreadtrum Communications, which is owned by Tsinghua Unigroup.
Qualcomm and Chinese antitrust regulators didn’t immediately respond to requests for comment. A Datang representative declined to comment.
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