Qualcomm Incorporated stock has leapt over 5 percent, the biggest single-day increase in four years, following news that they have settled new 3G and 4G license patent agreements with Xiaomi.

It’s a relief for the California-based chipmaker, which has seen its stock decline heavily in 2015 over licensing issues and slowing market demand.

“We are pleased to reach this new agreement with Xiaomi,” said Derek Aberle, President of Qualcomm in a release on Wednesday. “Qualcomm is committed to the success of its partners in China as they continue to grow their businesses.”

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com