How much is an apology worth? If you're an Apple customer, it turns out that the number is at least $ 4.5 billion. This is the amount that Qualcomm revealed in its Q2 earnings, which is derived from the settlement agreement between the companies that was previously involved in an ugly patent dispute for the past few years.
The Apple / Qualcomm ruling was an unexpected shift that occurred at the beginning of the process between the two companies. According to a report from Bloomberg Apple had decided that the modems from Intel (which Apple had used exclusively due to the fight with Qualcomm in the meantime) were not ready in time for a 5G iPhone, which Apple cited discovered sum of 4.5 to 4.7 billion US dollars should be made up with Qualcomm. This amount of money is independent of future license fees that Apple will continue to pay for the use of Qualcomm chips in its devices.
As for Apple, the billion-dollar company has acquired a six-year global patent license agreement with Qualcomm, with the option to extend it for another two years, to end legal action with the chip company worldwide and win Qualcomm's services as a parts supplier for future devices. For Apple, this is crucial, because with Intel's withdrawal from the 5G modem market for cell phones, Qualcomm is virtually the only game in town ̵
Agreements with Apple and look forward to continuing to support them as customers, "said Steve Mollenkopf, CEO of Qualcomm.