A day after Apple (AAPL) sued Qualcomm (QCOM) over its licensing practices, the mobile chipmaker responded Saturday, saying that "Apple's claims are baseless" and accused the iPhone maker of "actively encouraging regulatory attacks...around the world."
Here is a complete statement from Don Rosenberg, executive vice president and general counsel at Qualcomm:
"While we are still in the process of reviewing the complaint in detail, it is quite clear that Apple's claims are baseless. Apple has intentionally mischaracterized our agreements and negotiations, as well as the enormity and value of the technology we have invented, contributed and shared with all mobile device makers through our licensing program. Apple has been actively encouraging regulatory attacks on Qualcomm's business in various jurisdictions around the world, as reflected in the recent KFTC decision and FTC complaint, by misrepresenting facts and withholding information. We welcome the opportunity to have these meritless claims heard in court where we will be entitled to full discovery of Apple's practices and a robust examination of the merits."
Qualcomm is blaming Apple for recent charges by the Federal Trade Commission and South Korea's Fair Trade Commission (KFTC).
The U.S. FTC last Tuesday accused the chipmaker of anticompetitive tactics to keep its monopoly in baseband processors used in wireless devices. The FTC said Qualcomm forced Apple to use its chips exclusively to get lower licensing fees, cutting out rivals.
Qualcomm said it would vigorously fight the FTC charges, calling them flawed and political.
The company's licensing practices have come under fire around the world. It paid a $975 million fine in China in 2015 and late last year South Korea fined Qualcomm $853 million. The European Union also is probing Qualcomm.
Qualcomm fell 2.4% to 62.88 on the stock market Friday, falling to its lowest level since late September on the Apple lawsuit. Apple rose 0.2% to 120, still in buying range from its 118.12 buy point.
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