INSUBCONTINENT EXCLUSIVE:
In a completely unexpected twist to what was shaping up to be a colossally dull never-ending global lawsuit, Apple and Qualcomm have
reached a settlement that means both sides can work together, at least for the next six years.Apple settles with Qualcomm
The two companies
announced their new détente in a press release, titled: &Qualcomm and Apple agree to drop all litigation.& You can read it in full here,
but it really is as short as the below:The companies have ended litigation worldwide.
This ending of hostilities extends to manufacturing
partners.
The companies have reached a global licensing deal.
That deal extends for six years and includes a two-year option to extend.
They
have reached a chipset supply agreement.
Apple has paid Qualcomm an undisclosed sum.
Reaction to the deal has been positive
Qualcomm stock is spiking (up over 20%) at time of writing, while Apple has climbed a few points in anticipation of what this might mean for
its future mobile product plans.
