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4/17, 3:22 PM (Source: TeleTrader)
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Apple+0.34%

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Chart for: Apple Inc.

Qualcomm+0.62%

73.16
Chart for: QUALCOMM Incorporated

Qualcomm CEO: We won't discuss Apple settlement

American semiconductor giant Qualcomm's CEO Steve Mollenkopf (pictured) stated on Wednesday that the company is not planning on discussing its settlement with Apple Inc. Speaking on CNBC, the top executive also noted that it is normal that such big companies as Qualcomm and Apple will want to collaborate in the future.

"The reality is two great product companies, it’s a natural position for them to work together and want to work together," said Mollenkopf.

On Tuesday, Qualcomm and Apple reached a settlement to their long-standing royalties dispute. The agreement, which includes an undisclosed payment by Apple to Qualcomm, will dismiss all litigation between the two firms around the world.

Qualcomm's shares jumped 12.76% during the premarket trade on Wall Street while Apple's stock increased only 0.57%.

Breaking the News / VK