Posted by AdviserDirect on 04/17/2019

Apple and Qualcomm settle billion-dollar lawsuit

Apple and Qualcomm settle billion-dollar lawsuit

Tech giants Apple and Qualcomm have agreed to settle all ongoing lawsuits, putting an end to a long-running battle with billions of dollars at stake.

"All litigation between the two companies worldwide" has been dropped, the firms said in a joint statement.

The surprise settlement brings an end to a long-running battle over the cost of the processors that phones use to connect to mobile networks.

Apple accused chip-maker Qualcomm of overcharging, a claim the firm denied.

The settlement includes a payment from Apple to Qualcomm, but the firms did not disclose its size.

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