Qualcomm shares fell in premarket trade after Bloomberg reported that British chip designer Arm is looking to scrap a key license for the U.S. firm.
Should the cancellation of the license take place, then Qualcomm may have to stop selling products based on Arm designs.A smartphone with a Qualcomm logo is placed on a computer motherboard in this illustration taken on March 6, 2023.
Arm has given Qualcomm a 60-day notice of the cancellation of their so-called architectural license agreement, Bloomberg reported, citing a document.CNBC has reached out to Qualcomm regarding the report. Arm declined to comment. Qualcomm is one of the world's largest players in the smartphone processor markets. Its chips are built into hundreds of millions of smartphones shipped annually.Should the license cancellation take place, Qualcomm may have to stop selling products based on Arm designs.
A Qualcomm spokesperson told Bloomberg that Arm was trying to "strong-arm a longtime partner." It "appears to be an attempt to disrupt the legal process, and its claim for termination is completely baseless," the spokesperson added. The two companies have been locked in a two-year legal battle focused on Nuvia, a firm Qualcomm acquired in 2021 that is an Arm licensee. Arm argues that Qualcomm should now renegotiate licensing terms with the British firm.
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