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Apple sues chip maker Qualcomm for $1 billion

Apple filed a lawsuit against its major chip supplier Qualcomm, days after the U.S. Federal Trade Commission (FTC) sued the chip maker for its anti-competitive practices.

According to a report by MarketWatch, Apple sued Qualcomm for overcharging for chips and withholding $1 billion in rebates due to Apple’s discussions with the South Korean antitrust regulator, the Korea Fair Trade Commission.

In its lawsuit, Apple said that Qualcomm attempted to extort the company into providing false information to the antitrust regulator in exchange for Qualcomm’s release of promised rebates. Apple said that it refused Qualcomm’s attempt.

Qualcomm denied Apple’s allegations and said the claims were “baseless.”

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