Apple, Qualcomm announce settlement in royalty dispute

SAN FRANCISCO: iPhone maker Apple and American microchip manufacturer Qualcomm said Tuesday they have agreed to “dismiss all litigation” against each other in a sprawling battle over royalty payments.

The deal includes a six-year license agreement with the option to extend for two years.

Word of the deal sent Qualcomm┬┤s shares soaring on Wall Street, with the company┬┤s stock up 17.4 percent shortly after 1920 GMT. Apple share rose slightly as well, up 0.3 percent.

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