Friday, January 20, 2017
Qualcomm Sued For $1 Billion By Apple
San Diego-based Qualcomm is being sued by Apple in a $1 billion lawsuit, alleging that Qualcomm has been charging the company unfair royalties. Apple said in a statement that Qualcomm has insited on charging Apple "at least five times more in payments than all the other cellular patent licensors we have agreements with combined", and that the firm had recently withheld nearly $1B in payments from Apple as "retaliation" to responding to law enforcement officials investigating Qualcomm. The lawsuit follows a move by the Federal Trade Commission against Qualcomm from earlier this week, where the FTC charged San Diego-based Qualcomm with using anticompetitive tactics to maintain a monopoly on the market.