Although the litigation was slightly different in each iteration, nearly all of them came down to a pretty simple quarrel: Qualcomm has patents it thinks Apple's infringing, and Apple thinks Qualcomm is essentially a patent troll.
Settling the dispute with Qualcomm could give Apple access to 5G modem chips in time for the 2019 iPhone lineup launch. This means that the pair will stop any further litigation (as far as this particular matter is concerned).
Proceedings between the two companies began Monday in federal court in San Diego.
In a joint statement on Tuesday, Apple and Qualcomm announced "an agreement to dismiss all litigation between the two companies worldwide", including claims against Apple's contract manufacturing partners.
Apple alleged that Qualcomm - which has made crucial chips for the iPhone - charged an unfair amount to license its patents to place calls, connect to the internet and for other technologies, including audio and video.
As part of its settlement, the two companies said that they had reached a six-year license agreement, effective April 1 of this year.
Earlier the same day, Apple had fired the first legal shots in a San Diego courtroom, accusing Qualcomm of abusing its market power.
Qualcomm stock rose 23.21 percent on Tuesday while Apple stock remained relatively flat.
Apple and Qualcomm have been suing each other since January 2017. Certainly, Apple has an incentive to move forward with 5G phones as soon as possible, without the specter of patent disputes hanging over its technology.
Qualcomm had also accused Apple of using the legal system as a way to pay less for its technologies. Intel, a Qualcomm competitor, sharply dipped on the news before recovering.
The chip supplier also stated that Apple has benefited tremendously from the use of Qualcomm's IP, yet it claimed Qualcomm's policies have harmed the company. And he did this by pointing out that an iPhone can still function without Qualcomm's modem chip by using Wi-Fi.
Analysts were also unsure whether Apple's a onetime payment under the deal represented unpaid royalties from the past two years or a down payment on future royalties.
Apple held talks with Samsung, Intel and Taiwan's MediaTek Inc to supply 5G modem chips for 2019 iPhones, according to an Apple executive's testimony at a trial between Qualcomm Inc and the U.S. Federal Trade Commission earlier this year.
Qualcomm alleged Apple breached its agreements "for the express goal of inflicting financial harm on Qualcomm and coercing Qualcomm to accept unfair compensation for its IP", according to Qualcomm's trial brief. As a result, the face of the cellular modem market is changing in an instant, as Apple's shift in allegiances will have repercussions throughout the industry.