The chip technology company Arm has given Qualcomm 60 days notice, according to Bloomberg. Arm has reportedly canceled a license granted to Qualcomm to design chips based on its chip technology, according to a Bloomberg report on Tuesday.

Arm Holdings Plc , is cancelling an architectural license agreement that allowed partner Qualcomm Inc to use the British chipmaker's intellectual property to design chips, Bloomberg News reported on Tuesday,

Arm Holdings Plc is canceling a license that allowed longtime partner Qualcomm Inc. to use Arm intellectual property to design chips, escalating a legal dispute over vital smartphone technology.

The dispute between Qualcomm and Arm has escalated with the latter canceling Qualcomm’s ability to use the instruction set for designing chips.

Qualcomm brands ploy as 'unfounded' cash grab Chip designer Arm has reportedly warned chipmaker Qualcomm it will soon cancel its license to produce processors using its IP.… News of that drastic step emerged on Tuesday in a Bloomberg report that claims the newswire has seen an Arm document sent to Qualcomm that warns its architectural license will be cancelled in 60 days.

The cancellation escalates a legal dispute between two major companies that helped advance the smartphone industry.