Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

Screenshot Reuters.com
VOTE  (0)  (0)

Qualcomm shares soar on surprise settlement with Apple of long legal dispute


Added 04-16-19 08:03:02pm EST - “Qualcomm Inc on Tuesday won a major victory with a surprise settlement of its wi...” - Reuters.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Reuters.com: “Qualcomm shares soar on surprise settlement with Apple of long...”. Below is an excerpt from the article.

(Reuters) - Qualcomm Inc on Tuesday won a major victory with a surprise settlement of its wide-ranging legal dispute with Apple Inc that includes a supply agreement paving the way for the iPhone to once again use Qualcomm modem chips. The settlement also incorporates a six-year patent license and a payment from Apple to Qualcomm, but the companies did not disclose the amount.

Because Qualcomm is already shipping 5G chips while Apple supplier Intel Corp is still developing them, the deal gives Apple an opportunity to catch the iPhone up to Samsung Electronics Co Ltd and other manufacturers whose phones already work on the faster networks.

“This is a big win” for Qualcomm, said Christopher Rolland, an analyst at Susquehanna Financial Group. Shares of Qualcomm jumped 23 percent to $70.45, their biggest gain in more than 19 years.

The settlement followed two years of increasingly bitter legal conflict between the two companies and came as a opening arguments took place at a trial in federal court in San Diego.

As their conflict intensified, Apple had relied exclusively on Intel chips since last year. Apple stock rose marginally, gaining two cents to $199.25.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE