Apparently, Qualcomm is seeking to stop the import of iPhones into America Bloomberg reported on Wednesday.
Qualcomm VS Apple
The news has come after a decision by Apple previous week in which Apple said it will stop paying royalties to Qualcomm before the current payment dispute is resolved. Qualcomm has lowered its fiscal 3rd quarter guidance to a scale of $4.8 billion to $5.6 billion, reduced from $5.3 billion to $6.1 billion, after Apple’s decision. Apple initially sued Qualcomm in January saying that Qualcomm charges royalties for “technologies they have nothing to do with.” Qualcomm reacted by countersuing Apple the previous month, saying that it wants to “enjoin Apple from further interference with Qualcomm’s agreements with the companies that manufacture iPhones and iPads for Apple.”
The news hasn’t affected any stocks. Both the companies have refused to comment on the story.