Qualcomm and Apple Dismiss All Lawsuits and Have 6 Year License Agreement

Qualcomm and Apple today announced an agreement to dismiss all litigation between the two companies worldwide. Apple will pay Qualcomm license fees that they withheld. They reached a six-year license agreement, effective as of April 1, 2019, including a two-year option to extend, and a multiyear chipset supply agreement.

Qualcomm has many key cellphone and wireless patents. They are also a leader in developing 5G.

They see 5G cellular technology spurring a new era of intelligent, connected devices and enabling new opportunities in connected cars, remote delivery of health care services, and the IoT — including smart cities, smart homes, and wearables.

Qualcomm expects the agreement to add $2 of earnings per share. Qualcomm stock is up 23% to $70 per share.

SOURCES- Apple, Qualcomm, NASDAQ
Written By Brian Wang, Nextbigfuture.com