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Nokia, Qualcomm settle long-running dispute

By Elliot Spagat, AP Business Writer SAN DIEGO — The legal salvos between Nokia and Qualcomm stopped months ago, part of what officials at the wireless industry heavyweights described as a truce in a long-running battle that spanned three continents. Peace came Wednesday as the two sides prepared for a courtroom showdown. Nokia (NOK), the world's largest handset maker, and Qualcomm (QCOM), the world's largest maker of chips that run cellphones, agreed to settle a high-stakes licensing dispute and drop all legal complaints against each other in the U.S., Europe and Asia. The agreement, announced after markets closed, thrilled Qualcomm investors. The company's shares soared 18.7%, or $8.38, to $53.20 after hours. During regular trading, its shares rose 1.6%, or 72 cents, to $44.82 on the Nasdaq Stock Market. Nokia's U.S. traded... [read full story]                    

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