Qualcomm owes Apple almost $1 billion in rebate payments, judge rules
A federal judge issued a preliminary ruling late Thursday that Qualcomm Inc. (QCOM) must pay Apple Inc. (AAPL) almost $1 billion in patent rebate payments, Reuters reported (https://www.reuters.com/article/us-apple-qualcomm/u-s-judge-rules-qualcomm-owes-apple-nearly-1-billion-rebate-payment-idUSKCN1QV3EV). The tech giants are battling on multiple fronts over the wireless chips used in iPhones. Despite the ruling, Qualcomm is unlikely to ever pay that amount to Apple because the iPhone maker has already withheld about $1 billion in payments to Qualcomm, and Qualcomm's financial statements have already accounted for that loss. The judge's ruling will not become final until after an upcoming trial is completed, Reuters said.
-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 14, 2019 21:02 ET (01:02 GMT)
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