The iPhone maker Apple and the chip maker Qualcomm have recently settled their long-running intellectual-property quarrel over cellular technologies, which includes a payment from the former to the latter, and we now have our first look at the size of the legal agreement.
Apple’s recently-announced settlement with Qualcomm didn’t come cheap, according to UBS analyst Timothy Arcuri. In a research note released Thursday, Arcuri said the iPhone-maker likely paid between $5 and $6 billion to put a stop to the bevy of legal battles between the two companies.
Apple and Qualcomm have reached a settlement in their ongoing royalty dispute. The two companies issued a press release Tuesday afternoon, stating that they will drop all litigation and enter a six-year licensing agreement, effective as of the beginning of this month.
A U.S. appeals court has upheld a judgement against Apple worth $440 million, reports Reuters. The U.S. Court of Appeals for the Federal Circuit denied the iPhone-maker’s request to throw out the 2016 jury verdict, which found it guilty of infringing on patents belonging to VirnetX.