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MoneyApple demanded $1 billion from Qualcomm for chance to win iPhone

11:40  12 january  2019
11:40  12 january  2019 Source:   reuters.com

Apple says Qualcomm refused to sell it chips for the latest iPhones

Apple says Qualcomm refused to sell it chips for the latest iPhones Business gone bad

Qualcomm accuses Apple of breaking a master software agreement Apple signed onto when it Apple followed in the Federal Trade Commission’s footsteps by suing Qualcomm for $ 1 billion for The Cupertino, California, company claims in the U.S. suit that Qualcomm demanded onerous terms

Apple is suing Qualcomm for roughly $ 1 billion , saying Qualcomm has been "charging royalties for technologies they have nothing to do with," an action the chip maker sharply dismissed as groundless. The suit follows the U.S. Federal Trade Commission's lawsuit against Qualcomm earlier this week

Apple demanded $1 billion from Qualcomm for chance to win iPhone © Reuters/Andrew Kelly FILE PHOTO: People look at iPhones at the World Trade Center Apple Store during a Black Friday sales event in Manhattan, New York City (Reuters) - Apple Inc asked for $1 billion (£780m) as an "incentive payment" from Qualcomm Inc in order for Qualcomm to become the supplier of modem chips for Apple's iPhone, Qualcomm's chief executive testified on Friday at a trial with U.S. antitrust regulators.

The $1 billion payment as part of a 2011 deal between Apple and Qualcomm was meant to ease the technical costs of swapping out the iPhone's then-current chip with Qualcomm's.

Apple demanded $1 billion from Qualcomm for chance to win iPhone © Reuters/Aly Song FILE PHOTO: A Qualcomm sign is seen during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai

But Qualcomm CEO Steve Mollenkopf testified at a trial with the U.S. Federal Trade Commission that the hefty payment was part of why Qualcomm sought to become the sole supplier of Apple's so-called modem chips.

(Reporting by Stephen Nellis; Editing by Sandra Maler)

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