Apple Inc and Qualcomm have agreed to settle all the ongoing lawsuits they had filed against each other. This brings an end to the epic battle between the two gadget and technology manufacturers who have been in constant efforts of suing one another in different parts of the world.
Apple has agreed to pay an undisclosed amount to Qualcomm as part of the settlement and both the companies have also reached a global patent licensing agreement with a time frame of six years. This agreement might further be extended to another two years, paving way for both the tech giants to get back in full-fledged business and operations for the next six years and more.
The agreement also specifies Qualcomm to supply the required parts to Apple for several years enabling Apple once again to use the modem manufactured by Qualcomm in its iPhones.
The legal fight between both the tech giants had begun in the month of January in 2017. It came at a time when the 5G market was just taking a shape. Apple had sued Qualcomm for tagging excessively high and unreasonable prices to its modems and the other essential parts for the modern phones could not be created without those advanced accessories.
Qualcomm, on the other hand, had a lot of stakes pending from Apple including its patent licensing accounts that comprised of a vast majority of profit for the company. Qualcomm also accused Apple of stealing the technologies and its plans of plotting for the legal showdown for several years.
This week both Apple and Qualcomm appeared in the court for making a settlement to all the ongoing disputes between them, probably the duo also wanted to avoid spilling secrets in the court publicly.