Qualcomm has one less problem to think about now; all it has to do is work on its products and excel in the category of mobile processing chips.
Qualcomm Inc. has had a victorious start and first three months of the New Year. According to recent news, ParkerVision Inc. filed a patent infringement case against the chip-maker. However, the US Supreme Court has declined to review the case, which means that was another strike by the company in the current year.
The patent infringement case was filed against the chip manufacturer by ParkerVision Inc. was back in July of 2011. Initially, the court reviewed the lawsuit and the jury found the chipmaker guilty of violating the company’s mobile technology patents. The violation resulted in Qualcomm Inc. paying damages of $173 million to Parkervision. However, this decision was overturned by a United States District Judge due to which the company further approached the United States Court of Appeal for the Federal Circuit in Washington D.C.
Furthermore, the judge in the Court of Appeal upheld the decision which led Parkervision to directly approach the US Supreme Court. But since the largest court order did not work out in the favor of the Jacksonville based company, it has officially exhausted all its legal avenues.
In the past few months, the chip manufacturer has had a number of legal lawsuits being filed against it however this decision in the favor of Qualcomm give get some heat off of it. In addition to that, it is also be blamed for unfair practices by the International Trade Commission. The apparent unfair practices conducted by the chipmaker, that the ITC has been blaming it for include the sale after importation of products along with sale of importation.
Subsequently, Qualcomm is not the only victim that the ITC is blaming for such biased practices; other companies that have been under the spotlight by the ITC include Samsung Electronics, LG and the Silicon Valley giant, Apple Inc. – as most of these technology companies are going through the same investigations. The complaint by Parkervision Inc. was filed back in December 2015 however after the Supreme Court declined from reviewing the complaint, it might have an impact on the other ongoing investigations as well.
On the other hand, Qualcomm Stock has also reverted back from its all-time low of $42, as the stock of the chipmaker is currently being traded in the market for a share price of $50.69. However, the company is still a long way from its initial all-time high stock price of $70 but it seems as though the future will be brighter for Qualcomm and investors are quite happy with the current performance.
The technology company managed to outperform at the Mobile World Congress as its latest Snapdragon 820 processor was a big hit at the event and make companies are planning on using it as their official processor. Moreover, the chipmaker has decided to work on mid-tier smartphones as well. Presently the undisputed chipmaker leader in the market is Intel however with the recent announcements of Qualcomm; it is safe to say that it is likely to become a potential threat for the market leader in the recent times. Currently, Intel owns over 99% of the market share however the day is not far when Qualcomm is standing right next to it.
However, given the future guidance of the company, it is expected to outperform Intel in the recent times. Samsung Electronics, the Korean largest smartphone manufacturer is already the company’s biggest client. And the company has already tasted the downside of not expanding; it’s going to be very careful before making the same mistakes again.