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Apple Suing Qualcomm Seeking $1 Billion

Category: General News
Posted: 11:32AM

On Saturday Apple filed a lawsuit against Qualcomm claiming it has been charging royalties for technologies the company does not have a connection to and is seeking $1 billion. This follows the Federal Trade Commission's lawsuit against Qualcomm claiming unfair patent licensing practices and back in December Korean regulators fined the company $854 million for unfair trade practices.

According to Apple it pays Qualcomm five times more than it pays all the other cellular patent licensors it has agreements with combined. Qualcomm is one of the many companies that developed basic cellular standards and many other technologies. Apple is also claiming that Qualcomm is withholding almost $1 billion as retaliation for Apple answering questions in the Korean investigation.

Qualcomm's has not finished reviewing the complaint, but feels Apple's claims are baseless and that it has "intentionally mischaracterized" the agreements, negotiations, and the value of Qualcomm's inventions. The company even says it welcomes these claims being heard in court, where Apple's practices will be up for robust examination as well.

Source: CNBC

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