Delaware jury awards Qualcomm $2 in damages, finds Arm breached license agreement

Delaware Jury Awards Qualcomm $2 in Damages in Arm License Dispute

Overview of the Arm-Qualcomm Legal Dispute

Jury Findings and Damages Awarded

WILMINGTON, Delaware, Oct 13 (Reuters) - Chip technology supplier Arm Holdings breached a licensing agreement with Qualcomm and intentionally interfered with the chipmaker's business relationship with Meta Platforms, a Delaware jury found on Tuesday.

Nominal Damages and Market Reaction

• The federal jury awarded Qualcomm nominal damages of just $2 from Arm, according to court records.

• Shares of Arm were down 1% following the verdict, while shares of Qualcomm rose 1%.

Background and Trial Details

• The verdict followed a five-day trial last week, the second in two years between the companies that highlighted the deterioration of their business relationship after SoftBank Group acquired control of Arm in 2016 and Arm shifted from licensing the technology needed to make chips to selling chips of its own.

Reporting Credits

(Reporting by Anhata Rooprai in Bengaluru; Editing by Jonathan Ananda, Franklin Paul and David Gaffen)