TECH - Qualcomm Extends Its Deals With Apple And Samsung: Analyst Calls It A 'Not Surprising Development' | Benzinga
Chipmaker Qualcomm Inc. (NASDAQ:QCOM) has reported that its deals with tech giants Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co Ltd. (OTCPK: SSNLF) have been extended.
What Happened: While Qualcomm's deal with Apple for modems has been extended through 2027, its deal with Samsung to provide top-tier Snapdragon chipsets for the flagship Galaxy smartphones has been extended for an unspecified period.
In a post-earnings conference call, Qualcomm underscored the importance of both the deal extensions and also stated that it has renewed long-term agreements with two "significant" Chinese smartphone manufacturers.
"Apple exercised its unilateral option to extend its global patent license agreement for an additional 2 years, taking the existing agreement through to March 2027."
Apple had entered into a six-year agreement with Qualcomm in 2019 to license its modem technology for iPhone after settling a string of lawsuits.
Qualcomm reported revenue of $9.94 ...