Nokia buried the hatchet with RIM while ago, but now we have more details on what was involved. To settle down the patent lawsuits, RIM needs to pay $65 Million to Nokia along with several unspecified ongoing payments which was revealed in a recent filing with the Securities and Exchange Commission. RIM's first payment to Nokia — the one made up front — totaled in excess of $50 million.
"On December 21, 2012, Nokia and RIM announced that they have entered into a new patent license agreement," RIM explained in a 6-K filing. "The agreement will result in the settlement of all patent litigation between the companies and Nokia's dismissal of all pending actions in the United States, United Kingdom, Canada and Germany. The financial structure of the agreement includes a lump sum EUR50m (approximately $65m) one-time payment, which has been recorded in the Company's consolidated statement of operations in the third quarter of fiscal 2013."
Way back in 2003, the lawsuit was filed by Nokia against Research In Motion related to the BlackBerry maker's use of WLAN technologies. The Canadian firm will also offer Nokia "ongoing payments" for the right to use its patents related to WiFi technology found in BlackBerry handsets.
|Topics||Nokia, BlackBerry, Lawsuit, Patent, RIM, Patent Dispute, Research In Motion|