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Qualcomm Granted Injunction Against Apple, Chinese Court Rules

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Qualcomm Granted Injunction Against Apple, Chinese Court Rules

The multi-year long legal dispute between Apple Inc. (NASDAQ: AAPL) and Qualcomm, Inc. (NASDAQ: QCOM) expanded Monday after a Chinese court granted Qualcomm an injunction against the iPhone maker.

What Happened

A court in China banned the import and sale of nearly every iPhone model in the country, Qualcomm said in a statement.

At the core of the dispute is Qualcomm's belief Apple benefits from its intellectual property without remitting payment it believe is owed. The company's statement says the latest development in China is considered "further confirmation of the strength of Qualcomm's vast patent portfolio."

In response, Apple said in a statement Qualcomm's efforts to ban its products in China is "another desperate move by a company whose illegal practices are under investigation by regulators around the world."

"Qualcomm is asserting three patents they had never raised before, including one which has already been invalidated," the statement said. "We will pursue all our legal options through the courts."

What's Next

Qualcomm also said it has an "abiding belief in the need to protect intellectual property rights" although it rarely resorts to courts for assistance.

Apple said all iPhone models remain on sale in China. The company is looking to pursue all legal options through the courts.

In the meantime, Apple's stock was trading lower by nearly 2 percent Monday morning while Qualcomm's stock was moving in the opposite direction, up nearly 4 percent.

Related Links:

The Street Debates Qualcomm's Q3

Analyst Downgrades Qualcomm: 'Share Appreciation Hinges On Licensing Resolutions'

 

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Posted-In: China CNBC iPhoneNews Legal Top Stories Tech Media Best of Benzinga

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