Tim Cook Claims That He Is Keeping an Open Mind to Settle Qualcomm Lawsuit Quickly
During the Q1 2017 financial results posted by Apple, a pressing concern no doubt exists between the tech giant and Qualcomm, and both of them are currently embroiled in a legal battle where Apple claims that the leading mobile chipset manufacturer is overcharging for its products. Tim Cook, the Chief Executive of Apple states that he has an open mind concerning the legal battle with Qualcomm and wants it to end as quickly as possible.
Tim Cook Says He Hates Litigation and Prefers to Have a ‘Versus Battle’ With the Company – Fears Lawsuit Will Take Much Longer Than Expected
In an interview between Toni Sacconaghi and Tim Cook, the CEO of Apple was being pushed for comments regarding the legal battle taking place between the firm and Qualcomm (via 9to5Mac). Tim responded by stating the following:
“I’ve always hated litigation, and I continue to hate it, and I highly prefer to settle versus battle. They were insisting on charging royalties for technologies that they had nothing to do with, and so we were in a situation where the more we innovated with unique features like Touch ID, or advanced displays, or cameras, the more money Qualcomm would collect for no reason, and the more expensive it would be for us to innovate.”
Tim has also stated that if there was another option for both parties, he would definitely pursue it, but for the foreseeable future, he fears that this skirmish is only just getting started:
“I don’t like litigation, and so if there’s another way, then that would be great, but at this point I don’t see it. I fully expect at this point in time that it will take some time, but in the end, I think common sense will prevail, and the courts will see it for what it is. So that’s the way I see it.”
For those that are unaware, Apple was suing Qualcomm for $1 billion over patent royalties. With the ongoing drama, the leading smartphone chipset manufacturer failed to reach its revenue target, with its share price falling as a result. To recap, Apple is a huge customer of Qualcomm as it and Samsung both accounted for 40 percent of the company’s $23.5 billion in revenue reported in 2016. Looks like both of these companies will still rely on the manufacturer for components to be incorporated in flagship devices, but Qualcomm will have to wait for the storm to pass before it can hope for a brighter 2017.