On August 26, Huawei and HP jointly declared the establishment of a multi-year, worldwide patent cross-licensing agreement. Under this agreement, Huawei will license some of its WiFi-related patents to HP, with HP compensating Huawei through royalty payments. Up until now, Huawei has already inked over 260 patent licensing deals with leading ICT firms across the United States, Europe, Japan, South Korea, and various other regions. Projections indicate that an additional 34 agreements are slated to be added by 2025.