Qualcomm Inc on Monday announced its partnership with a Chinese tech firm to innovate technologies related to drones, smart devices and virtual reality googles, which the American chipmaker believes will be the next big thing in the industry.

A statement released by Qualcomm and Thunder Software Technology Co. Ltd (or Thundersoft) said their joint venture dubbed as Thundercomm will develop products and technologies for local companies that aim to create the next generation of drones, VR devices and wearables, and robots.

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According to the deal, the official budget of Thundercomm is 18.74 million yuan ($2.8 million), and about 82 percent of the joint venture will be held by Thundersoft.

Thundercomm will be located at the Fairy Peach Data Valley in Yubei District in Chongqing, China - which has become one of the largest manufacturing bases for smart devices in the world.

General Manager of Thundercomm Zhang Shutao revealed that the partnership will permit the Beijing-based firm to utilize Qualcomm's intellectual properties.

Meanwhile, Qualcomm China chairman Frank Meng said that Chinese startups are expected to be the frontrunner in innovation of emerging sectors. He noted that instead of waiting for overseas imported ideas, Chinese tech firm are moving and creating technological innovations.

"Local vendors are coming up with gigantic amount of ideas that suit requirements of Chinese customers. Qualcomm wants to be a part of this new trend that will unlock another trillion-yuan market," Meng told China Daily in an exclusive interview.

Changjiang Securities Co. analyst Ma Longwen highlights that the new tandem will offer Thundersoft a lead in a number of sectors including smart automobile, VR and drone making.

Thundercomm is the first major investment by Qualcomm in China since it has built a Guizhou-registered firm to manage its Chinese investments in January.

TagsQualcomm, Thundersoft, Fairy Peach Data Valley, Thunder Software Technology Co Ltd, Thundercomm, drone, Robots, Virtual Reality