Qualcomm Inc. (QCOM) CEO Steve Mollenkopf reported that Trade Minister Wilbur Ross signed a sanctions deal on Chinese ZTE Corp. on Thursday. (ZTCOY) had announced
"I was happy about it," said Mollenkopf at The Deal Corporate Governance 2018: Understanding the Changing Agenda in New York on Thursday. The conclusion is that resolution of the dispute with ZTE might lead Chinese regulators to end Qualcomm's purchase of NXP Semiconductors NV (NXPI).
"It's good for the business, it's good for our business," he added, improving relations between the US and China.
TheStreet founder Jim Cramer interviewed Mollenkopf in a conversation that NXP deal about the hostile takeover attempt by Broadcom Corp. (AVGO), 5G wireless technology and an ongoing IP battle with Apple Inc. (AAPL).
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Qualcomm announced the $ 39 billion purchase of NXP in October 201
"We are very pleased with the degrees we have completed," said Mollenkopf. "We'd like it to happen faster."
Qualcomm fought a hostile takeover bid from Hock Tans Broadcom earlier this year with the help of Washington. The Foreign Investment Committee in the US and President Trump gave Mollenkopf a hand in March. The government cited concerns about maintaining leadership in wireless technology when Broadcom discontinued parts of the business.
"What I got was the speed at which things happened," Mollenkopf said of the government's action.
Meanwhile, a deposition of Apple CEO Tim Cook comes in the litigation of the companies on royalties. 19659002] "People make too much of every single legal milestone, including that one," Mollenkopf said about the potential of companies to reach an agreement.
Finally, 5G wireless technology offers a chance for Qualcomm.
"We're doing technology betting that creates ecosystems like 2G, 3G, 4G, 5G, and there will be another G," he said. "These transitions are usually very good events for the industry and for our shareholders."
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