FIRST AIRED: April 16, 2019

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00:00:00
with billions of dollars on the line apple and chip supplier Qualcomm backed down from my major legal showdown just as the lawyers will square off in court the two sides agreed Tuesday to a six year licensing agreement pointing to an end a two year dispute lawyers for apple had accused Qualcomm of using quote monopoly power to set cold unfair prices and engaging in a legal patent licensing practices the claim involves chips that allow devices like the iPhone or apple watch to connect to wireless data networks Holcomb charges for the sale of the chip in addition to a licensing fee apple had called the licensing fee a quote tax on innovation the legal battle threatened to end the revenue stream tied to the one hundred and thirty thousand patents held by Qualcomm in retaliation Qualcomm had accused apple of convincing suppliers not to pay royalties %HESITATION Tuesday surprise settlement prompted eight twenty two percent rally and Qualcomm stock price apple was also a winner although the reaction in its stock was more muted are reaching a settlement apple will now get access to Qualcomm for top notch five G. chips with the legal battle over apple CEO Tim cook and Qualcomm CEO Steve Malik cop who are scheduled to take the witness stand the coming weeks can now is their focus on how to deal with the global slowdown in mobile phone demand