From Nasdaq:

Chipmaker Qualcomm Inc. (NASDAQ: QCOM) has extended deals with tech giants Apple Inc. (NASDAQ: AAPL) and Samsung Electronics Co Ltd. The deal with Apple has been extended through 2027, while its deal with Samsung for Snapdragon chipsets has been extended for an unspecified period. Qualcomm reported revenue of $9.94 billion in the December 2023 quarter.

Apple exercised its unilateral option to extend its global patent license agreement with Qualcomm through to March 2027. Apple had entered into a six-year agreement with Qualcomm in 2019 to license its modem technology for iPhone. Tech analyst Ben Bajarin called the deal extension a “not surprising development.” Apple’s struggles with 5G modem technology have led to delays, with the rollout pushed back to late 2025 or early 2026.

Qualcomm highlighted the deal extension with Samsung to provide top-tier Snapdragon chipsets for flagship Galaxy phones. The agreement demonstrates the value of Snapdragon 8, Qualcomm’s technology leadership, and its long-term strategic partnership with Samsung. Samsung has used flagship Qualcomm Snapdragon chipsets in its flagship smartphones in the U.S. since 2017.

The deal extensions with Apple and Samsung underline the difficulty of fabricating high-quality chipsets and modems. Both Apple and Samsung have faced challenges in designing their own chipsets and modems, with efforts to create in-house models facing delays. Qualcomm’s shares closed at $148.25 on Wednesday.



Read more: Qualcomm Extends Its Deals With Apple And Samsung: Analyst Calls It A ‘Not Surprising Development’