Qualcomm on Monday said it had signed a new deal with Apple to supply 5G chips to the iPhone maker until at least 2026.
Qualcomm, whose shares rose 5% in early trading, is the leading designer of what are known as modem chips that connect phones to mobile data networks.
That chip supply agreement ends this year, meaning that the iPhones that Apple is expected to announce Tuesday would be the last phone debut under that agreement. Qualcomm also said that a patent licensing deal it signed with Apple in 2019 remains in place. That deal expires in 2025, but the companies have an option to extend it for two years.
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