Qualcomm posts $1.5 billion bond to enforce German court decision on iPhone sales
Qualcomm and Apple are involved in an ongoing patent infringement case
Last month courts in China and Germany agreed with Qualcomm’s allegation that some Apple iPhone models contain technology that infringes on Qualcomm intellectual property. Both courts ruled that Apple has to stop importing, selling and offering for sale several iPhone models with China issuing a preliminary injunction and Germany handing down a permanent injunction.
In order to enforce the injunctions, Qualcomm has to post bonds that would serve to cover Apple’s losses in the event that a higher court reveres the injunction. This week the San Diego-based chipmaker shelled out $1.52 billion to move forward with enforcement of the German injunction.
The Chinese decisions covers iPhone 6S, iPhone 6S Plus, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus and iPhone X, although devices remain on shelves as Apple said it solved the problem through a software upgrade. In Germany, some models have been pulled from Apple stores but are still available through other channels.
Apple signaled it would appeal the German decision but, in the meantime, has pulled iPhone 7 and iPhone 8 from its retail locations in the country.
For Apple the timing isn’t great. Since October the company has lost more than $400 billion in value. As Business Insider put it in a recent headline, “Apple’s value has fallen by more than Facebook’s entire worth.”
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