Qualcomm President Cristiano Amon speaks at the Mobile World Congress on Feb. 24 in Barcelona.
Apple Inc. and Qualcomm Inc. have ended their worldwide, multibillion-dollar dispute over a technology used in Apple’s iPhones, the two tech titansThey agreed to drop all litigation, and Apple will provide a payment to Qualcomm, they said. The companies also announced a six-year license agreement and a “multiyear chipset supply agreement.”Qualcomm stock surged as much as 18% on the news, its biggest intraday advance since November 2017. Apple shares rose less than 1%.
Apple and Qualcomm have spent two years fighting around the globe over how much Qualcomm can charge Apple to use the chipmaker’s patented technology in its iPhones, with neither landing a decisive blow.In that trial, a federal jury would have decided for the first time if Qualcomm’s business model is legal and whether Apple had the right to stop paying royalties for the technology.
An out-and-out victory for either side could have forced the loser into concessions to settle the conflict that has spawned dozens of lawsuits on three continents. Apple, with roughly $245 billion in cash, would have been able to shrug off any damages awarded. On the other hand, if the jury found that Qualcomm had abused its market dominance to demand excessive royalties from phone makers, the chipmaker could have been forced to abandon a licensing model that has enabled it to grab as much as 5% of the net selling price of every smartphone sold.A look back, and ahead, at the latest California business news.
Apple is also upset over the early release of this instrumental tune on Soundcloud: Listen to Gravity (Your Love Is) by The Returning np on SoundCloud
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