Apple demanded $1 billion for chance to win iPhone: Qualcomm CEO

SAN JOSE, California (Reuters) – Qualcomm sought to become the sole supplier of modem chips for Apple’s iPhone to recoup a $1-billion “incentive payment” that Apple insisted on, not to block rivals from the market, Qualcomm’s chief executive testified on Friday. The payment from Qualcomm to Apple – part of a 2011 deal between Apple and Qualcomm – was meant to ease the technical costs of swapping out the iPhone’s then-current Infineon chip with Qualcomm’CEO Steve Mollenkopf testified at a trial with the U.Federal Trade Commission.

Link: Apple demanded $1 billion for chance to win iPhone: Qualcomm CEO
via finance.yahoo.com

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