Qualcomm to supply Apple with 5G chips until 2026 under new deal
Qualcomm said on Monday it had signed a deal with Apple to supply 5G chips until at least 2026, at a time when the iPhone maker faces increased challenges in China and looks to reinforce its supply chains elsewhere. The deal extends a relationship worth billions of dollars to Qualcomm for at least three years beyond what was expected and indicates Apple is not rushing out its own modem, despite moving all its computers to processing chips of its own design. Qualcomm shares were up 4% in early afternoon trade. The company is the leading designer of modem chips that connect phones to mobile data networks. Apple shares rose 0.5%. San Diego, California-based Qualcomm previously signed a chip supply deal with Apple in 2019, after the two companies settled a protracted legal battle. That supply agreement ends this year, meaning that the iPhones that Apple is expected to announce on Tuesday would be the last phone debut under that deal. Under the accord announced Monday, Q...