BlackBerry wins $815 mln in dispute with Qualcomm

BlackBerry has been awarded $814.9 million in a binding interim arbitration decision in a dispute with Qualcomm over royalty overpayments. (Reuters)

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.
 

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Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53
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