Deal rumoured to be worth hundreds of millions
vnunet.com, 26 Nov 2008
Samsung has settled its longstanding patent litigation with InterDigital for a rumoured $400m to $500m (£260m to £325m).
Samsung had been accused of infringing on InterDigital's patents on its 2G and 3G phone products. InterDigital has now granted a licence to Samsung for the patents until 2012.
"I am extremely pleased that we have reached a favorable agreement with Samsung to end this longstanding dispute," said William J Merritt, president of InterDigital.
"The agreement is consistent with our long-term strategic plan, and reflects well on the strength of our patent portfolio and our ability to design flexible deal structures."
Samsung now has 45 days to finalise its payment plan for the settlement which, according to a report in The Wall Street Journal, is between $400m and $500m.
InterDigital has already reached settlements with Apple, LG Electronics and Research In Motion over the use of its intellectual property in handsets. A case against Nokia is due next year.
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