Samsung to Pay Hundreds of Millions of Dollars to Settle Patent Dispute With Ericsson
In the second patent deal announced by Samsung in the last 24 hours, the Korean electronics giant and Ericsson announced they have settled a dispute with a cross-licensing deal that will see some big checks being written to the Swedish networking firm.
While full details weren’t disclosed, Ericsson said the settlement will boost its fourth-quarter sales by 4.2 billion Swedish kronor ($652.3 million) and its net income by 3.3 billion kronor ($512.5 million). In addition to the initial payment, Samsung will also make ongoing payments to Ericsson, the companies said.
The deal will end all of the global patent disputes between the two firms, including complaints before the U.S. International Trade Commission and lawsuits in U.S. District Court in Texas.
“We are pleased that we could reach a mutually fair and reasonable agreement with Samsung. We always viewed litigation as a last resort,” Ericsson Chief Intellectual Property Officer Kasim Alfalahi said in a statement. “This agreement allows us to continue to focus on bringing new technology to the global market and provides an incentive to other innovators to share their own ideas.”
On Sunday, Samsung said it had reached a patent cross-licensing deal with Google.