Qualcomm CEO on Apple settlement

Qualcomm CEO Steve Mollenkopf appeared on CNBC Wednesday to discuss the company’s settlement with Apple.

Mollenkopf said the company will not disclose the payment Apple agreed to in the settlement. Following the announcement of the settlement on Tuesday, Qualcomm said it expects incremental earnings per share of $2 as product shipments ramp. Mollenkopf said he was pleased that the two companies will continue to work together.

“The reality is two great product companies, it’s a natural position for them to work together and want to work together,” Mollenkopf said.

Shares of Qualcomm were up more than 14% in premarket trading on Wednesday following a 2% rally on Tuesday after announcing the deal.

This story is developing. Check back for updates.

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