BlackBerry Ltd. says it has been awarded $814.9 million in a binding interim arbitration decision in a dispute with Qualcomm Inc. over royalty overpayments.
The two companies agreed last year to arbitrate a disagreement regarding whether Qualcomm’s agreement to cap certain royalties applied to payments made by BlackBerry under a license agreement.
BlackBerry chief executive John Chen said Wednesday in a statement the two companies have a longstanding relationship and continue to be valued partners.
BlackBerry says a final award including interest and reasonable legal fees will be issued after a hearing on May 30.
Qualcomm says while it does not agree with the decision, it is binding and not appealable.
The San Diego-based chip maker says the decision is limited to provisions unique to BlackBerry's license agreement with Qualcomm.
-
BlackBerry posts fresh losses as it focuses on biz software
BlackBerry suffered another loss in its latest fiscal year and now aims to return to profitability by refocusing on business services Technology -
Struggling Blackberry announces new round of layoffs
BlackBerry is laying off an unspecified number of workers around the world Technology -
BlackBerry launches Classic in last-ditch effort
BlackBerry holds a small fraction of the U.S. smartphone market after commanding a nearly 50 percent share as recently as 2009 Technology -
BlackBerry posts $207 million loss
Analysts surveyed by FactSet had expected a loss of 15 cents on higher sales of $951 million Technology