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Qualcomm shares jump after surprise settlement with Apple
- Wednesday | 17th April, 2019
The Qualcomm settlement also incorporates a six-year patent licence and a payment from Apple to Qualcomm, but the companies did not disclose the amount. (Reuters) – Qualcomm Inc on Tuesday won a major victory in its wide-ranging legal dispute with Apple Inc as the companies reached a surprise settlement that called for the iPhone to once again use Qualcomm modem chips. As part of the settlement, Qualcomm will also end litigation with Apple’s contract manufacturers. Apple had accused Qualcomm of using illegal patent practices to keep a monopoly on modem chips that connect phones to mobile data networks. A jury of six men and three women was in the process of hearing opening arguments from Apple and Qualcomm when news of the settlement broke.
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