UPDATE 6-Qualcomm shares soar on surprise settlement with Apple of long legal dispute

Qualcomm Inc on Tuesday won a major victory with a surprise settlement of its wide-ranging legal dispute with Apple Inc that includes a supply agreement paving the way for the iPhone to once again use Qualcomm modem chips. The settlement also incorporates a six-year patent license and a payment from Apple to Qualcomm, but the companies did not disclose the amount. Because Qualcomm is already shipping 5G chips while Apple supplier Intel Corp is still developing them, the deal gives Apple an opportunity to catch the iPhone up to Samsung Electronics Co Ltd and other manufacturers whose phones already work on the faster networks.

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