Qualcomm (QCOM) is still trying to get the ITC ban on importing some handsets that use its tech from being imported into the US. The ITC ruled that certain Qualcomm technology infringed on patents held by rival Broadcom (BRCM). A US appeals court refused to rule on the matter saying it did not have jurisdiction.
As the FT points out: "Verizon Wireless, the second-largest US mobile carrier, has moved to ensure an uninterrupted supply of new phones that use the disputed technology. It has agreed to pay up to $200m in licensing fees to Broadcom to avoid the ITC ban on imports." The big US carrier does not want to wait for the issue to be resolved.
The market is generally pretty efficient about analyzing big news like the Qualcomm troubles. And, the market is saying the the news is bad. Qualcomm’s stock has dropped from $45.53 to as low as $42.83 in one day.
Douglas A. McIntyre
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