CNBC’s Squawk Alley had a panel discussion about the ongoing dispute between Apple and Qualcomm, a company that provides chips to Apple, on Monday.
CNBC’s Jon Fortt explained the basics of the conflict, which involve Apple refusing to pay Qualcomm for technology Qualcomm created. That move has hurt Qualcomm’s ability to invest more in research and development.
Fortt then held up his smartphone and stated that Qualcomm’s argument is simply “this [phone] is no good” without the technology Qualcomm provides Apple.
Scott Galloway of New York University’s Stern School of Bussiness told the panel that Apple knew about this agreement with Qualcomm but decided that they are so powerful, “We can basically wave the middle finger at existing contracts, and you’re the one that is going to come out on the wrong end of this.”
“I don’t understand [Apple’s] argument,” Galloway went on to tell the panel.
Galloway concluded by saying he thinks regulators will eventually break up companies like Apple up because they aren’t going to be great for society in the long run.
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