Connect with us

Hi, what are you looking for?

World

Ericsson, Samsung sign deal settling patent dispute

-

Swedish telecom equipment maker Ericsson said on Monday it had signed a deal with South Korean electronics giant Samsung settling a global patent dispute.

Ericsson said in a statement that the agreement included an initial payment which would boost the company's fourth-quarter profit and revenue by 3.3 billion kronor (375 million euros, $511 million) and 4.2 billion kronor respectively.

"Ericsson and Samsung have reached an agreement on global patent licenses between the two companies," the Swedish company said.

"The cross license agreement covers patents relating to GSM, UMTS, and LTE standards for both networks and handsets."

The multi-year licence deal also guarantees royalty payments from Samsung to Ericsson, according to the Swedish company.

In November 2012, Ericsson filed two patent infringement lawsuits that came to an end with the deal: one at a US court in Texas and one at the US International Trade Commission.

"We are pleased that we could reach a mutually fair and reasonable agreement with Samsung. We always viewed litigation as a last resort," chief Intellectual Property officer Kasim Alfalahi said.

Samsung also announced on Monday it had signed another long-term cross-licence deal with Google in order to prevent potential patent disputes in the future.

According to the South Korean group, the agreement would cover the firms' existing patents and those filed over the next 10 years.

Swedish telecom equipment maker Ericsson said on Monday it had signed a deal with South Korean electronics giant Samsung settling a global patent dispute.

Ericsson said in a statement that the agreement included an initial payment which would boost the company’s fourth-quarter profit and revenue by 3.3 billion kronor (375 million euros, $511 million) and 4.2 billion kronor respectively.

“Ericsson and Samsung have reached an agreement on global patent licenses between the two companies,” the Swedish company said.

“The cross license agreement covers patents relating to GSM, UMTS, and LTE standards for both networks and handsets.”

The multi-year licence deal also guarantees royalty payments from Samsung to Ericsson, according to the Swedish company.

In November 2012, Ericsson filed two patent infringement lawsuits that came to an end with the deal: one at a US court in Texas and one at the US International Trade Commission.

“We are pleased that we could reach a mutually fair and reasonable agreement with Samsung. We always viewed litigation as a last resort,” chief Intellectual Property officer Kasim Alfalahi said.

Samsung also announced on Monday it had signed another long-term cross-licence deal with Google in order to prevent potential patent disputes in the future.

According to the South Korean group, the agreement would cover the firms’ existing patents and those filed over the next 10 years.

AFP
Written By

With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.

You may also like:

World

Calling for urgent action is the international medical humanitarian organization Doctors Without Borders/Médecins Sans Frontières (MSF)

Business

The cathedral is on track to reopen on December 8 - Copyright AFP Ludovic MARINParis’s Notre-Dame Cathedral, ravaged by fire in 2019, is on...

Business

Saudi Aramco President & CEO Amin Nasser speaks during the CERAWeek oil summit in Houston, Texas - Copyright AFP Mark FelixPointing to the still...

Business

A recent article in the Wall Street Journal infers that some workers might be falling out of the job market altogether.