Apple launches legal battle with Qualcomm in China

Qualcomm has recently reaffirmed to the AFP that it has not had a chance of looking over such legal complaints but it has acknowledged that one of these legal notices represents the former, violating China's anti-monopoly laws.

CEO Steve Mollenkopf said the company was "pleased" with what he called a "strong start to our fiscal year", and pointed out earnings growth in both the chip-set and the licensing businesses.

On January 17, 2017, it was reported that USA antitrust officials were poised to sue QUALCOMM, Inc for allegedly using unfair practices in the way it licenses its technology.

Three days later, Apple filed a lawsuit making similar allegations, as well as accusing Qualcomm of withholding almost $1 billion in royalty "rebates" in retaliation for Apple's cooperation with South Korean regulators.

January 20, 2017 - "While we are still in the process of reviewing the complaint in detail, it is quite clear that Apple's claims are baseless". "We welcome the opportunity to have Apple's claims heard in court, where we will be entitled to full discovery of Apple's practices and a robust examination of the merits". QUALCOMM accounts for approximately 0.7% of Boston Advisors LLC's investment portfolio, making the stock its 25th largest position. Since Apple makes expensive phones, Apple pays high royalties. Boston Advisors LLC's holdings in QUALCOMM were worth $29,267,000 as of its most recent SEC filing.

Mollenkopf added that even though tangible and meaningful increases have been seen in the value of Qualcomm's patents over time, it never raised its royalty rates. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. It wants to only be charged royalties for the price of the modem chip. "We intend to remain a good supplier to Apple, even while this dispute continues, and believe there is no better long-term partner for Apple than Qualcomm and our industry-leading technology". Qualcomm said this allegation is outright false. We highlight that the provisions will govern Qualcomm's business with major handset manufacturers LG and Samsung, the latter of which is also a major Qualcomm licensee and at times the foundry supplier of a major portion of its processors. The company derives a significant portion of its revenue from licensing that technology to other chipmakers.

"Qualcomm led the industry in producing innovations that provide or support nearly every aspect of your smartphone's capability", Aberle said.




Anyway, interesting how much share they lost in 2016 with MSM down 85 million units.

Apple has led other companies trying to change licensing practice around the world, Aberle observed, noting those efforts have thus far all failed.

This afternoon the folks at Qualcomm have issued a statement on their current state of legal affairs with Apple in China.

On Saturday, Qualcomm accused Apple of "actively encouraging regulatory attacks. around the world".

"To protect this business scheme, Qualcomm has taken increasingly radical steps - most recently withholding almost $1 billion in payments from Apple as retaliation for responding truthfully to law enforcement agencies investigating them", it added.

Wall Street analysts had forecast fiscal first quarter revenue of $6.12 billion and non-GAAP earnings of $1.18 a share.

Over the period of 6 months, Insider Purchases show a total of 4 transaction in which 30565 shares were traded.

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