Economy

Apple Is Said to Design iOS Devices Without Qualcomm Parts

In contrast, revenue from Qualcomm's licensing business fell 36 percent to $1.21 billion in the quarter ended September 24.

In its legal spat with Apple, Qualcomm has posted quarterly earnings of an 89.7 percent decline in profits as the chipset manufacturer is facing a massive $778 million fine from Taiwanese regulators. The San Diego, California-based chipmaker stopped the sharing of the software following Apple's move to file a lawsuit against Qualcomm at the beginning of the year.

Shares of Qualcomm fell as much as 8.1 percent, the biggest intraday drop since January, to $50.25 in NY on Tuesday. Previous year however Intel chips were introduced in some models of the iPhone 7 Plus and the iPhone 7.

Apple sued Qualcomm in January, accusing it of overcharging for chips and of refusing to pay some $1 billion in promised rebates. Qualcomm also sued some Apple contract manufacturers in April over royalty payments and is trying to ban the sale of iPhones in China.

"We really try to compartmentalize our engagement with Apple".

In January, Apple sued Qualcomm for almost $1 billion for charging a hefty price for royalties on technologies that Apple said the chipmaker should not be associated with.

It forecast current-quarter revenue of $5.5 billion to $6.3 billion and adjusted earnings of 88 cents to 95 cents per share. Qualcomm also added that it remains committed to supporting the new devices from Apple just like is the case with other players in the sector.

Qualcomm, one of the world's largest chipmaker, sees a 90% drop in profit in Q3 2017. Excluding items, Qualcomm earned 92 cents per share, beating analysts estimates of 81 cents, according to Thomson Reuters I/B/E/S. Revenue fell 4.5 percent to $5.91 billion, but came in ahead of analysts estimate of $5.80 billion.

Its shares were marginally higher in after-hours trading.



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