What amount is an apology worth? All the things considered, if you’re Apple, it turns out the number is, in any event, $4.5 billion, which is the sum that Qualcomm revealed in its Q2 income it will get from the settlement agreement between the companies, which had recently been involved in a terrible patent dispute for the past few years.
The Apple/Qualcomm settlement was an unexpected move that came early in the trial between the two companies. As indicated by a report from Bloomberg, Apple had decided that Intel’s modems wouldn’t be prepared in time for a 5G iPhone, driving Apple to pony up the recently revealed whole of between $4.5 to $4.7 billion to make up with Qualcomm. That amount of money is isolated from any future royalties that Apple will pay for using Qualcomm contributes its devices going forward, as well.
As for Apple, its billions have purchased the company a six-year worldwide patent licensing agreement with Qualcomm, with an alternative to expanding it for an additional two years after that point onward, ending the legal fights with the chip company around the globe and picking Qualcomm’s services as a selections supplier for future devices. That’s basic for Apple, given that with Intel’s withdrawal from 5G modem market for phones, Qualcomm is basically the only game in town — until or unless Apple starts creating its own.
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“We are likewise satisfied to have come to multi-year agreements with Apple and anticipate to continuing to help them as a customer,” reads a statement from Qualcomm CEO Steve Mollenkopf. On the off chance that you’re considering how much $4.5 billion truly is to Apple, it is reported that Apple presently has roughly 50 times that amount — $225.4 billion — of cash on hand alone.