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Apple and Qualcomm reach unlikely settlement agreement

Apple and Qualcomm reach unlikely settlement agreement

In a seemingly unlikely turn of events, Apple and Qualcomm earlier today settled their ongoing legal dispute, according to a press release from both companies. The settlement comes just one day after a jury was selected to decide upon what was sure to be a blockbuster anti-trust trial that would have likely dragged on for quite some time.

Per the press release, both companies agreed to “dismiss all litigation” in all jurisdictions across the globe. Further, the settlement agreement “includes a payment from Apple to Qualcomm,” though a specific figure was not disclosed. And lastly, both companies “reached a six-year license agreement, effective as of April 1, 2019, including a two-year option to extend, and a multiyear chipset supply agreement.”