adminStockholm – Swedish telecommunications equipment maker Ericsson and South Korean technology group Samsung have agreed to drop a long-running dispute over patents, the Swedish firm said yesterday. Ericsson said the agreement will add 3.3bn kronor ($512m) to its fourth quarter net income from an initial payment from the South Korean firm.
Samsung will also pay royalty payments under the new multi-year licence agreement that covers patents used in wireless and consumer electronics products. Terms were not disclosed.
According to the settlement, both companies were to drop complaints made against each other before the International Trade Commission (ITC) and the US District Court for the Eastern District of Texas.
Ericsson filed a lawsuit in November 2012 at the Texas court. Ericsson is due to present its fourth quarter results on Thursday.-Fin24.
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