The drop was due to reports of Apple considering using components from Intel and MediaTek, thus dropping Qualcomm from the equation entirely. Apple says Qualcomm is unfairly charging too much and leveraging its strong market position in chips illegally.
These are but new chapters in a long series of unfortunate events.
In another USA case, Qualcomm alleges that it has six patents developed in the past four years that improve battery life in mobile devices and that 'Apple uses these technologies in its devices but is not paying for them'.More news: Nintendo Announce Black Friday Zelda Bundles!
Qualcomm CEO Steve Mollenkopf suggested that the company would likely settle with Apple out of court and it could be a situation "where a solution just appears".
For all the animosity, though, Qualcomm sounds nearly ready to make amends in its statement to The Wall Street Journal, which was in response to the question of whether Apple was redesigning its phones specifically because Qualcomm didn't send the testing software.
The mixed messages aren't all that surprising. The legal proceedings between the two companies started in January, when Apple sued Qualcomm, accusing them of overcharging for use of their patented chips.More news: The Weeknd Initiated Breakup with Selena Gomez
The US chipmaker Qualcomm's legal battle with Apple did not dampen its growth as the company beat estimates with $5.96 billion in sales in the fourth quarter of its fiscal year that ended September 30. There's also a chance that we'll see a new iPad Pro as early as next summer, which could make matters even more complicated.
Recent reports have claimed Apple is planning to ditch Qualcomm completely for the 2018 iPhone handsets, given the recent strife between the two firms. We also contacted Apple, but did not receive a response.More news: Maryland Falters in State's First Leapfrog Hospital Safety Grades