Apple Paid Qualcomm up to $4.7 Billion in Settlement According to Qualcomm’s Earnings

Apple and Qualcomm recently reached a settlement, which ends global litigation between the two companies. We didn’t learn anything related to money in this regard with Apple’s latest earnings report. However, that’s not the case with Qualcomm’s.

Axios is reporting today that Qualcomm is confirming it received between $4.5 billion and $4.7 billion in revenue from the settlement with Apple. That includes a “cash payment from Apple and the release of related liabilities”. This deal between the two companies includes a six-year licensing agreement, as well as a yearly chipset supply agreement.

It was recently reported that Apple had paid “upwards of $6 billion” to Qualcomm to reach the settlement.

As for what happens next, all eyes are on 5G. Apple is rumored to launch its first 5G iPhone as early as 2020. Initial expectations had been Intel would supply the modem chips. However, with the settlement, Apple is expected to tap Qualcomm and Samsung for 5G chips in 2020.

[via Axios]