"The reality is two good product companies, it's a natural position for them to work together and want to work together," said Qualcomm CEO Steve Mollenkopf.
Mollenkopf said the company would not disclose the payment Apple approved in the settlement. Following the announcement of the settlement on Tuesday, Qualcomm said it expects incremental earnings per share of $ 2 as a product shipment ramp and it starts to give 5G chips to Apple.
Shares of Qualcomm was up 1[ads1]2% in early trading on Wednesday after a 23% rally on Tuesday after announcing the deal.
The legal battle was centered on a dispute between the two companies, Apple claiming that Qualcomm was abusing acquired his position as a dominant supplier by charging high prices and license fees for his patents. The chipmaker claimed Apple withheld payments it had agreed. The settlement announcement came just as trial procedures began in San Diego, where each company sought billions in compensation.
Despite the bitter legal dispute, Mollenkopf Qualcomm and Apple said now focused on their products and working together.
The energies of the companies right now are finding out how we can fall up as quickly as possible, says Mollenkopf. "That's where the focus is, that's what we're happy about."
Now that this dramatic chapter is behind Qualcomm, Mollenkopf said he was excited to focus on new opportunities, including 5G.
The 5G space opened for Qualcomm even more on Tuesday after Intel announced it would fall out of the 5G smartphone market, referring to a fuzzy path to profitability.
"There are many opportunities for us to go after it, and we hope to have the opportunity to do even more," says Mollenkopf.
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