Qualcomm shared its first-quarter 2024 earnings report that revealed $9.92 billion in revenue and $2.77 billion in net profit, both higher than previous estimates. During the earnings call, Qualcomm CEO Cristiano Amon revealed another interesting fact: Apple and Qualcomm have extended their 5G modem licensing agreement until March 2027.
In our QTL business, we are pleased to share that we have recently extended several key licensing agreements. First, Apple exercised its unilateral option to extend its global patent licensing agreement for another 2 years, bringing the existing agreement until March 2027.
This development comes after the two companies previously reached an extension covering Qualcomm 5G modems on Apple devices through 2026. Apple has struggled to develop its own in-house 5G modems after purchasing Intel’s modem business in 2019.
Cupertino’s 5G modem development process continued to encounter obstacles and was rejected multiple times. Some reports suggested that Apple had scrapped the entire modem project altogether. Interestingly, Qualcomm’s 10-Q report filed with the SEC suggests that the company believes Apple will develop and use its own 5G modems in the future.
Start a new Thread