The United States Court of Appeals for the Ninth Circuit (Ninth Circuit) gave a landmark decision in favor of Qualcomm, on Aug 11th 2020, in the long running antitrust case brought about by FTC. This was a highly anticipated outcome in the multi-year saga, which saw fortunes go back and forth between the parties. The detailed opinion written by Judge Callahan, representing the panel of three judges, is a tell-a-tale of how FTC mischaracterized Qualcomm’s business model, and how the United States District Court for the Northern District of California (lower court) misjudged the case.