San Francisco. In a surprise move, Qualcomm and Apple have announced an agreement to dismiss all ongoing litigations, including with Apple's contract manufacturers, between the two companies worldwide.
The deal would result in a massive cash windfall for Qualcomm and put Apple on a faster path to 5G for iPhones.
The companies have reached a global patent license agreement and a chipset supply agreement, Apple said in a statement.
The settlement includes a payment from Apple to Qualcomm. The companies also have reached a six-year license agreement, effective as of April 1, 2019.