Qualcomm alleges Apple CEO Tim Cook of misleading comment on settlement discussion

The Qualcomm Inc said on Tuesday that Apple Inc Chief Executive Officer (CEO) Tim Cook`s comment that there were no recent settlement discussions between the iPhone maker and the chipmaker were "misleading." In an interview to a business news channel, Apple CEO had declined to have any discussion to settle the licensing dispute of the company. The interview was aired on Tuesday. Apple shares had shot up by robust 1.91 percent to $150.75 per share.

"We have been consistent for the last 18 months in making clear that we have, at various times, been in discussions with Apple about a possible resolution to our licensing dispute," a Qualcomm spokesperson said.

In an interview with CNBC earlier on Tuesday, Cook said there have not been any discussions to settle a licensing dispute between the companies since the "third calendar quarter of last year." Recently the Apple CEO Tim Cook has been hitting the headlines for talking on the variety of new launches by Apple in 2019 and success of wearable products that includes watch and Airpods.

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In his 'Mad Money' interview, Cook had talked about the contribution of the company in health services, which the Apple was soon going to launch.

In that interview, Cook was found citing Apple was taking what has been with the institution and empowering the individual to manage their health. And we're just at the front end of this