Apple (AAPL) Faces Risk Of IPhone Import Ban From QUALCOMM
Zacks Investment Research | Jul 06, 2017 10:47PM ET
Cupertino-based tech giant, Apple Inc (NASDAQ:AAPL) might find itself in trouble. Chipmaker QUALCOMM Incorporated (NASDAQ:QCOM) is now seeking a ban on iPhone import in the U.S, according to media reports.
Per a filing with the U.S. International Trade Commission, Qualcomm is seeking an injunction on iPhone import from China. The chipmaker has accused Apple of violating six of its patents, including one that improves battery life, as per CNBC.
Qualcomm, reportedly, has also filed a lawsuit against Apple with the U.S. District Court for Southern California seeking damages for patent violation. Qualcomm’s executive vice president, Dan Rosenberg was quoted saying “Qualcomm’s inventions are at the heart of every iPhone and extend well beyond modem technologies or cellular standards.” He added “Apple continues to use Qualcomm’s technology while refusing to pay for it.”
In response, Apple has maintained that "We've always been willing to pay a fair rate for standard technology used in our products and since they've refused to negotiate reasonable terms we're asking the courts for help."
A few days back, Apple had fired a Zacks Investment Research
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