AIEE! New Qualcomm 3G chips (and the phones that contain them) Banned

Ok, ok, breathe. It's not as bad as all that.... right? Here's the skinny: the International Trade Commission ruled that Qualcomm's 3G chips (which are to be found a a bunch of phones, especially on Sprint and Verizon) infringe on some Broadcom patents. They banned future imports to the US - but phones that have already been imported or approved are fine. That should mean that roapmaps for upcoming devices shouldn't change in the short term. In the long term, Qualcomm needs to get this little dispute taken care of.

The International Trade Commission said late on Thursday that the Qualcomm chips infringed a patent owned by Broadcom Corp. (BRCM.O: Quote, Profile , Research) and barred U.S. sales of phones containing the chips that are not already being imported.

Read: Qualcomm shares up as ITC ban not as bad as feared

Here's a funny twist, though, the best hope that Qualcomm (and their buddy Verizon) have for fixing this this ASAP? The President of the United States:

Both Qualcomm and Verizon already have said publicly that they plan to ask President Bush to overturn the ITC ruling, and will ask a federal appeals court to grant an emergency stay to prevent the ruling from taking effect until the President rules on the appeal.

Read: 3G Chips Barred from U.S.