I'm curious, why would they need licensing from Qualcomm to run Windows on ARM?
(I'm not a low-level expert, mind you.)
TL;DR: because ARM, unlike x86, doesn't offer much in the way of a hardware abstraction layer.
So the thing about x86 is that, for historic reasons, it's become highly standardized (see "IBM-compatible PC" and "Hardware Abstraction Layer / HAL"). So whether AMD makes a CPU or Intel does, or whether Asrock designs a motherboard or Apple, the hierarchy is the same. You have, for example, a firmware that's almost invariably either BIOS (increasingly rare these days) or EFI/UEFI. Therefore, all Apple had to do to make Windows run on an x86 Mac ("Boot Camp") was to allow it in the firmware (which at the time a BIOS compatibility module, because Windows wasn't fully compatible with EFI yet), and to provide appropriate drivers for Apple-specific hardware (such as their trackpad). These days, there's even less work involved — Apple was early in using EFI, but almost everyone does now.
That's not the case for ARM at all. Yes, the instruction set is specified by Arm Holdings, but everything around it isn't. A Raspberry Pi, an iPhone, and a Microsoft Surface Pro X all use ARM, but they're otherwise quite different. All supported versions of Windows 10 on ARM use Qualcomm CPUs, and
only Qualcomm CPUs. Yes, the programs they run are compiled to 64-bit ARM regardless of Qualcomm (well, either that, or they're 32-bit x86 and emulated), but drivers and firmware are Qualcomm-specific. Your non-Qualcomm ARM CPU may work, or it may not, and just because it does work doesn't mean Qualcomm is amused about that. Even if an ARM MacBook boots Windows on ARM out of the box (and it probably won't), Qualcomm's legal team is going to fight that tooth and nail, because that's not what Microsoft and Qualcomm agreed to.
Unless, of course, Apple, Microsoft, and Qualcomm want to come to an agreement.
ARM simply never had the need or stakeholders for a common hardware platform. On the contrary, each chip designer is happy to build their own proprietary and deliberately incompatible approach. Including, of course, Apple.
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Ultimately I expect it will depend on how valuable Apple sees Bootcamp for Windows on Arm (and whether WoA actually gains any significant traction). The primary reason for bootcamp is to run Windows software that may or may not work with WoA anyway, in which case it's of little value.
Yup.
Compared to Microsoft's first shot at Windows on ARM, they've added emulation this time, but there still doesn't seem to be that much traction. It mostly feels like the Surface Pro X exists not so much because they believe in the product, but because they wanted to fire a warning shot at Intel to get their act together.
The developer story for Windows on ARM is pretty poor.
But if it gains significant traction Apple might want to facilitate bootcamp, in which case it's for them to work with Microsoft to develop a version of Windows which will work with their chips. There's little reason I can think of for Microsoft to say no if Apple approach them.
My expectation is they would need to bring not just Microsoft but also Qualcomm to the table. The new, emulator-enhanced Windows on ARM is entirely Qualcomm-specific. They'll want a licensing deal for their secret sauce, regardless of whether Apple finds that sauce useful.