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Photo: Xin Yue/Huanqiu.com/VCG via Getty Images

A federal judge has ruled that Qualcomm engaged in anticompetitive behavior and ordered the chipmaker to renegotiate its licensing deals with device makers. Qualcomm vowed to appeal the ruling.

The big picture: Qualcomm defends its "no license, no chips" business model — under which it only sells processors to companies that also take a license to its patents. But critics say the policy is unfair and that the company doesn't offer its standards-essential technology on a fair and reasonable basis.

Qualcomm's practices have "strangled competition," Judge Lucy Koh wrote in a 233-page ruling that was posted late Tuesday.

Why it matters: Qualcomm gets a large chunk of its revenue — and an even greater share of its profits — from licensing its broad patent portfolio of wireless technology. Forcing it to renegotiate deals could put a significant dent in that business.

Shares of Qualcomm fell more than 10% in the wake of the decision.

The timing of the ruling is interesting, coming after Apple settled a similar suit with Qualcomm and agreed to a new license and chip supply deal. That deal took place after the FTC case was heard.

What's next: Qualcomm said it will seek a stay of the order from Judge Lucy Koh as well as an expedited appeal to the U.S. Court of Appeals for the 9th Circuit.

“We strongly disagree with the judge’s conclusions, her interpretation of the facts and her application of the law,” general counsel Don Rosenberg said in a statement.

Go deeper

Rahm Emanuel questioned on murder of Laquan McDonald in confirmation hearing

Rahm Emanuel during a Senate Foreign Relations Committee confirmation hearing on Oct. 20. Photo: Sarah Silbiger/Bloomberg via Getty Images

Former Chicago Mayor Rahm Emanuel spoke about the murder of Laquan McDonald during his Senate confirmation hearing Wednesday to become the U.S. ambassador to Japan, saying that "there's not a day or a week that has gone by in the last seven years I haven't thought about this."

Catch up quick: McDonald was a Black teenager who was fatally shot 16 times by Chicago police during Emanuel's tenure as the city's mayor. The 2014 shooting triggered massive protests, both because of its nature and the fact that the officers' body-cam footage was concealed for years.

3 hours ago - World

Biden's ambassador nominee: "China is not an Olympian power"

Nick Burns testifying before the Senate Foreign Relations Committee. Photo: Sarah Silbiger/Bloomberg via Getty Images

President Biden's nominee to serve as ambassador to China delivered a stark assessment of the challenges the U.S. faces in confronting Beijing, but stressed that the rising superpower is "not all-powerful" and the West retains "substantial" advantages.

The big picture: Nicholas Burns, a retired career diplomat and former U.S. ambassador to NATO, used his confirmation hearing Wednesday to echo the growing bipartisan consensus that China poses "the greatest threat to the security of our country and the democratic world" in the 21st century.

Scoop: U.S. and Israel to form team to solve consulate dispute

Secretary of State Antony Blinken (left) and Israeli Foreign Minister Yair Lapid (right) meet in Washington. Photo: Andrew Harnik/Pool/AFP via Getty Images

The U.S. and Israel are planning to form a joint team to hold discreet negotiations on the reopening of the U.S. Consulate in Jerusalem, Israeli officials say.

Why it matters: The consulate handled relations with the Palestinians for 25 years before being shut down by then President Donald Trump in 2019. Senior officials in Israeli Prime Minister Naftali Bennett's government see the consulate issue as a political hot potato that could destabilize their unwieldy coalition.