Qualcomm shared its Q1 2024 earnings report which revealed $9.92 billion in revenues and $2.77 billion in web earnings, each of which surpassed earlier estimates. In the course of the earnings name, Qualcomm CEO Cristiano Amon revealed one other attention-grabbing reality – Apple and Qualcomm have prolonged their 5G modem licensing deal by March 2027.
In our QTL enterprise, we’re happy to share that we lately prolonged a number of key license agreements. First, Apple exercised its unilateral possibility to increase its world patent license settlement for an extra 2 years, taking the present settlement by to March 2027.
This improvement comes after the 2 corporations beforehand reached an extension masking Qualcomm 5G modems on Apple gadgets by 2026. Apple has had a extremely robust time growing its in-house 5G modems after it bought Intel’s modem enterprise again in 2019.
Cupertino’s 5G modem improvement course of stored working into hurdles and was pushed again a number of occasions. Some experiences advised that Apple scrapped the entire modem challenge altogether. Apparently, Qualcomm’s 10-Q report filed to the SEC means that the corporate believes Apple will develop and use its personal 5G modems sooner or later sooner or later.