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Qualcomm Settles Patents and Royalties Suit for $891 Million


This is a settlement for the Internet/Technology lawsuit.

The California-based chip maker Qaulcomm has reached a settlement over patent and royalty payments due to a rival California-based chip maker, Broadcom Corp, for a reported $891 million.

The settlement will bring to a close 4 years of litigation over allegations by Broadcom that Qaulcomm was misusing its patents to suppress industry competition. Qualcomm's chips are used in a large proportion of the world's cell phones and the company also licenses technology to wireless communications companies.

Additional terms of the agreement include Broadcom pulling its complaints filed with the European Commission and the Korea Fair Trade Commission. The companies have also granted certain patent rights to each other.

Qualcomm will make an initial payment to Broadcom of $200 million by June 30, 2009, as part of the settlement.

APRIL-27-09: Qualcomm to pay $891M to settle suit with Broadcom [MERCED SUN STAR: QUALLCOMM TO PAY $891M]

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Published on Apr-27-09


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