China court grants Qualcomm injunction against Apple, banning import and sale of nearly all iPhone models.
Qualcomm (NASDAQ:QCOM) says it has won a preliminary order from a Chinese court banning imports and sales of several Apple (NASDAQ:AAPL) iPhone models in the region.
The Fuzhou Intermediate People’s Court order affects the iPhone 6S to iPhone X, which the court found violated two of Qualcomm's software-related patents for photograph resizing and touch screen application management.
Apple could update the software to remove the infringing features and continue selling the phones.
Earlier this year, the same court banned the import of some Micron chips.
In Citi's Apple target cut this morning, the firm cited Apple's exposure to China, which accounts for about 18% of total sales.
Apple shares are down 1.3% premarket. Qualcomm shares are up 2.2%.
Previously: Citi has $125 bear case for Apple (Dec. 10)
