Here’s an interesting piece of news that totally went under the radar, especially after all the Nokia vs Apple lawsuit talk a couple of days ago. The big news is that Samsung is going to renew its licensing deals with Qualcomm and pay them $1.3 Billion to use patents related to third- and fourth-generation wireless technology for the next 15 years. In return Qualcomm will have the right to use 57 Samsung patents related to mobile technology.
The contract calls for Samsung to allow Qualcomm to use Samsung’s 57 patents for mobile technology, but Samsung will not be paid by Qualcomm due to the higher value of Qualcomm’s licenses.
Samsung said the deal is more favorable than the previous one, but it declined to say why. “The new deal is better for us,” a Samsung spokesman said, without elaborating.
The San Diego-based chipmaker welcomed the extension of the cross-licensing deal with one of its biggest customers.
“I am also pleased to announce that we recently extended our license agreement with Samsung, covering both 3G and 4G,” said Paul E. Jacobs, chairman and CEO of Qualcomm, in a statement posted on its Web site. South Korea is a major market for Qualcomm as the country is home to Samsung and LG Electronics Inc., the world’s third-largest cellphone maker, with nine out of every 10 South Koreans owning at least one handset.
Source: TKorea thanks for the tip Gabe