Qualcomm revealed Wednesday that it expects to receive at least $4.5bn from its settlement with Apple. The figure appeared in its latest earnings report.
Qualcomm Revenue Boost From Apple Settlement
The chipmaker said it could receive as much as $4.7bn in total:
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While we continue to assess the accounting impacts of the agreements, our financial guidance for the third quarter of fiscal 2019 includes estimated revenues of $4.5 billion to $4.7 billion resulting from the settlement (which will be excluded from our Non-GAAP results), consisting of a payment from Apple and the release of our obligations to pay or refund Apple and the contract manufacturers certain customer-related liabilities.
On April 16th the companies announced they had settled their two-year legal dispute. They signed a 6-year licensing agreement, effective as of April 1. Apple has a 2-year option to extend. The firms agreed a multiyear chipset supply agreement too. Apple also agreed to make a one-off payment to Qualcomm. The amount was not disclosed at the time.
Massive win for Qualcomm and a disappointing loss for Apple.