On Wednesday, the 3rd of July, A US court had ruled against the US-based chipmaker Qualcomm Inc.’s effort to "stay" a lower court order, which had ruled a sweeping anti-trust measure against the chipmaker earlier this year, as the mobile chip suppliers had been trying to vent out an appeal that would take more than a year to process through the court.
Nonetheless, over the court hearing, Qualcomm had argued that an implementation of the ruling would be scrambling its ongoing negotiation with mobile phone manufacturer on 5G technology in such way, which might even become impossible to unwind.
As anticipated, following the reveal of the ruling, shares of the US chipmaker, headquartered in San Diego, California, was down by 0.5 percent to $76.73. As a matter of fact, the US modem chips suppliers which connect mobile phones to data networks, Qualcomm, had been fighting a May 21st decision by a lower court in a case brought by the Federal Trade Commission (FTC), where the judge had ruled that Qualcomm’s licensing practices had been suffocating competitiveness.
On Wednesday’s (July 3rd) verdict, US District Judge, Lucy Koh did not provide any specific reason behind denying Qualcomm’s appeal, but had submissively pointed towards a fact that Qualcomm had been trying to put a hold on to previous ruling, which would eventually allow it sufficient time to stamp deals with mobile phone manufacturers over 5G modem chips.