Chips&Media signs video IP contract with US mobile chip firm

Semiconductor IP firm Chips&Media said on Wednesday that it has signed an IP contract with a US-based mobile semiconductor company.

In 2019, the firm had signed a similar contract with one of the so-called FAANG companies __ Facebook, Amazon, Apple, Netflix and Google.

Chips&Media said it is expecting royalty payment from the firm going forward, which will be reflected on its earnings within the year.

The company’s mobile IP business is expected to account for around 10% of its sales this year, it also said. The business previously only pitched in around 1% of its sales.