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Qualcomm Is Close To Resolving Yearlong Apple Dispute, CEO Tells Cramer

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Qualcomm Is Close To Resolving Yearlong Apple Dispute, CEO Tells Cramer
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Qualcomm, Inc. (NASDAQ: QCOM) and Apple Inc. (NASDAQ: AAPL)'s ongoing legal battles could be coming to an end, Qualcomm CEO Steve Mollenkopf told CNBC. 

What Happened

Apple accused Qualcomm of making irrational demands to receive a fee for each iPhone it sells, while Qualcomm alleges Apple stole and bartered its trade secrets.

The dispute between the two started in 2017, but Mollenkopf told CNBC's Jim Cramer during his "Mad Money" show Wednesday that the two companies are "on the doorstep of finding a resolution."

The dispute between the two companies is in the "fourth quarter of the game, and not the first quarter" the CEO said.

Why It's Important

A mutually acceptable outcome would come at a time when the cellular industry is nearing a full-scale launch of 5G networks, Mollenkopf said.

5G represents an opportunity to either work with Apple and be "part of that new generation" or "left behind," he said. 

"Of course, we work with everybody," he said. "We would love to work with Apple."

What's Next

5G should rollout in the spring of 2019, and Qualcomm will continue focusing on the "tremendous benefits" it can offer to the industry, the CEO said. 

"The people that made, that embrace the new technology do the best," Mollenkopf said. "Of course, we try to provide that to everybody and there's an opportunity there with every [original equipment manufacturer]."

Related Links:

Rosenblatt Turns Bullish On Qualcomm, Highlights 5G Opportunity

The Street Debates Qualcomm's Q3

Photo courtesy of Apple. 

Posted-In: 5G CNBC iPhone Jim Cramer Mad MoneyNews Legal Media Best of Benzinga

 

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