Apple Sues Qualcomm for $1 Billion

Anita Balakrishnan, reporting for CNBC:

Apple is suing Qualcomm for roughly $1 billion, saying Qualcomm has been “charging royalties for technologies they have nothing to do with.” The suit follows the U.S. Federal Trade Commission’s lawsuit against Qualcomm earlier this week over unfair patent licensing practices.

Shares of Qualcomm, which had been up 1 percent earlier in the day, were down nearly 2.5 percent by the closing bell.

Apple says that Qualcomm has taken “radical steps,” including “withholding nearly $1 billion in payments from Apple as retaliation for responding truthfully to law enforcement agencies investigating them.”

Apple added, “Despite being just one of over a dozen companies who contributed to basic cellular standards, Qualcomm insists on charging Apple at least five times more in payments than all the other cellular patent licensors we have agreements with combined.”

That answers my question the other day about who initiated the complaint against Qualcomm with the FTC.

Friday, 20 January 2017