Foxconn Files Lawsuit Against Qualcomm As The Chipmaker Loses 40% Year-over-Year Profits

Things at Qualcomm are looking pretty messy at the moment. First, it was Apple which initiated a $1 Billion lawsuit against them and now Foxconn and a number of Taiwanese manufacturers have joined the legal battle with a lawsuit of their own in U.S federal district court.

Qualcomm reported its Q3 earnings and the net income fell from a mighty $1.44 billion in 2016 to $866 million. Revenues also dropped by 11 percent to $5.4 Billion and the reason for all this is apparently Apple's continual refusal to pay royalties to the Californian company. 

On top of that, you have FTC suing Qualcomm for the company was threatening to withhold chips supply to obtain unreasonable licensing terms. Talk about being surrounded from all angles.

However, despite all that, Qualcomm's CEO believes that issues with Apple will hopefully be settled without too much into the court shenanigans. But then it is Apple we are talking about here, they like to take things deep judging from their checkered history with Samsung.

Source