Cupertino, Calif.-based Apple Inc. is suing tech giant Qualcomm, alleging that the San Diego-based chipmaker unfairly insisted on charging huge royalties for technologies that it has nothing to do with.
Confirming its legal action against Qualcomm on Friday, Apple said that hit was seeking $1 billion form the chipmaker in damages it suffered.
Apples said that it innovated with unique features like TouchID, advanced camera and displays, but Qualcomm insisted on charging it at least 5 times more in payments than other cellular patent licensors.
On Thursday, The Wall Street Journal (WSJ) reported that NXP Semiconductors NV is exploring the possibility of its sale to Qualcomm Inc.
According to the report, based on the information shared by two unidentified sources, NXP Semiconductors and Qualcomm are reportedly in 'early stage' talks about a potential acquisition deal, which could likely be completed in the next 2-3 months.
San Diego, California based Qualcomm Inc, forecasted first-quarter profits that did not meet the expectation of the analysts. The chip making company is struggling to keep up with strong competition from rivals in China and Taiwan. The company is also struggling with delays in closing licensing agreements in China.
On Monday, GE and Qualcomm Atheros, which is a subsidiary of Qualcomm Inc., announced a collaboration through which the companies plan to add the innovative indoor positioning technology in stores of major retailers for better customer experience. The new technology will allow retailers to pinpoint the location of the shopper and permit the use of mobile apps to personalize their in-store experience.
San Diego-based Qualcomm Inc. announced that it will buy back shares up to $15 billion and also increase its quarterly dividend.
The chipmaker said that it will be buying buy back shares of up to $10 billion in the coming one year. On Monday, the share price of the company spiked 2.6 percent to $74.60 during extended trading.
Qualcomm Inc. The San Diego-based company the chip giant has found China to be great for its chip business but is facing troubles in t in its other key business which is licensing patents.
Qualcomm recently added two new 64-bit processors to its Snapdragon line. The new processors announced by Qualcomm on Monday include the Snapdragon 810 and the Snapdragon 808 processors, aimed at high-end flagship smartphones and tablets.
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