Apple to pay Qualcomm at least USD 4.5 billion as partial payment of its patent settlement

Qualcomm will receive over USD 4.5 Billion in settlement from Apple as the two companies reconcile over patent feud.

Apple to pay Qualcomm at least USD 4.5 Billion as partial payment of its patent settlement

Apple's expensive apology to Qualcomm

Qualcomm has revealed that Apple will pay them at least USD 4.5 billion in a settlement agreement between both parties. This legal drama stemmed from Intel's modem that Apple planned to use for possible future 5G iPhone that won't be ready in time. This resulted in Apple reconciling with Qualcomm through a multi-million patent deal. 

Aside from the USD 4.5 to 4.7 billion in settlement fees, Qualcomm will be collecting royalties from Apple for the use of the company's modem on any future Apple device.

This gives Apple a six-year worldwide patent agreement with Qualcomm. It also gives the company an option to extend the deal for an additional two years. Intel's withdrawal from the 5G modem market for telephones gives Qualcomm free reign as it is the only available option for cupertino based company.

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Source: GizmoChina