US: Qualcomm & FTC ask for more time to reach settlement in Apple case

Qualcomm and the US Federal Trade Commission (FTC) have asked a federal judge to postpone a preliminary ruling in the latter’s antitrust case, as the two sides are hoping to pursue a settlement.

If the delay takes effect, a decision on the FTC’s motion for partial summary judgment would be moved out 30 days, Reuters reported. Qualcomm has been seeking to end as many of its legal disputes as it can in order to reach financial targets, namely a goal of up to US$7.50 in earnings per share by its 2019 fiscal year.

The FTC case dates back to January 2017 and accuses Qualcomm of forcing companies like Apple to buy its wireless chips in exchange for better patent royalty rates. Apple was in an exclusive modem supply arrangement with Qualcomm for several years, but started mixing in Intel chips with 2016’s iPhone 7, and is now Intel-only with the iPhone XS.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.

RECOMMENDED FOR YOU
 


More Articles