Qualcomm granted partial stay in antitrust case

Friday, 23. August 2019 19:35

Qualcomm Inc. was on Friday granted partial stay on a court ruling which nearly brought the chipmaker's business model to collapse, according to which, the company strangled competition by charging percentage based on the price of different smartphone models. For now, thanks to the new ruling, Qualcomm will not be obliged to renegotiate license agreements or stop requiring chip buyers to sign a patent license.

The Ninth Circuit Court of Appeals curbed certain remedies of the previous ruling, following an intervention by the Department of Justice. "While the FTC prosecuted this antitrust enforcement action, the DOJ filed a statement of interest expressing its stark disagreement that Qualcomm has any antitrust duty to deal with rival chip suppliers," the ruling read.

Qualcomm's shares dove 3.10% at 1:29 pm ET amid a wider market selloff.

Related Links: Qualcomm Inc.
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Breaking the News / GG