“A day after settling a multibillion-dollar battle with Apple, Qualcomm’s CEO told CNBC he looks forward to working with the iPhone maker, but he would not disclose how much Apple agreed to pay,” Lauren Feiner reports for CNBC. “‘The reality is two great product companies, it’s a natural position for them to work together and want to work together,’ Qualcomm CEO Steve Mollenkopf said.”
“Mollenkopf said the company will not disclose the payment Apple agreed to in the settlement,” Feiner reports. “Following the announcement of the settlement on Tuesday, Qualcomm said it expects incremental earnings per share of $2 as product shipments ramp and it starts providing 5G chips to Apple.”
“Despite the bitter legal dispute, Mollenkopf said Qualcomm and Apple are now focused on their products and working together,” Feiner reports. “‘The energy of the companies right now is let’s figure out how to ramp up as quickly as possible,’ Mollenkopf said. ‘That’s where the focus is, that’s what we are excited about.'”
Read more in the full article here.
MacDailyNews Take: Obviously, like charging mats apparently, modems are hard (and/or patented up the wazoo). As a result, Apple’s climbed back in bed with the devil for the time being.
SEE ALSO:
Here’s what likely happened between Apple, Qualcomm and Intel – April 17, 2019
Intel axes 5G modem plans after Apple and Qualcomm settle – April 17, 2019
After settlement with Apple, Qualcomm still faces other potential legal fallout – April 16, 2019
Qualcomm and Apple settle, agree to drop all litigation – April 16, 2019
Intel rebuffs report, still plans to supply 5G modems for 2020 devices – April 5, 2019
Intel modem announcement likely means no 5G iPhone until 2020 – February 22, 2019
And Mollenkopf’s nose grew an inch with every word…
I would not be much surprised if Apple got those chips nearly for free. QCOM got quite a lot to lose. They did bet the whole farm.
Keep your friends close and your enemies closer
They don’t need to disclose it their bank account will show at Apple took it up the ass! Likely deserved it too. Apple never said I should’ve signed an agreement they didn’t agree with.
I do think that the amount will eventually come out as analysts dig through the next quarterly financial reports for both companies and estimates will be made and publicized. I’m also sure the the terms of the agreement likely stipulated that neither party would talk about the specific terms. All that being said, Qualcom’s lack of confidence/boasting about the settlement now makes me think that maybe Apple got a pound of flesh out of them. You might not be correct about Apple taking it up the ass after all (my initial presumption was the same as yours though). Only time will illuminate though.
I’ll happily look at QCOMs and AAPLs earnings and listen to their conference calls…… We’ll get a good estimate from that.
And Yes FORBES prints another Apple hit piece I don’t trust a single thing that FORBES has to say about anything they have never said anything positive about Apple.. They are a bunch of Asshats..https://www.forbes.com/sites/ewanspence/2019/04/17/apple-iphone5g-modem-qualcomm-settlement-intel-tim-cook-huawei/#48f4fc487281