Arbitration Panel Awards Refund to BlackBerry
- April 12th, 2017
- 121 views
SAN DIEGO / CRWE PRESS RELEASE / April 12, 2017 - Qualcomm Incorporated (NASDAQ: QCOM) announced a binding interim arbitration award requiring Qualcomm to refund a sum of $814.9 million, plus interest and attorneys’ fees, to BlackBerry Incorporated related to royalties for certain past sales of subscriber units. The parties had agreed to arbitrate a contract dispute relating to one specific issue: whether Qualcomm’s voluntary per unit royalty cap program applied to BlackBerry’s non-refundable prepayments of royalties for sales of a specified number of subscriber units from 2010 through the end of 2015.
While Qualcomm does not agree with the decision, it is binding and not appealable. The arbitration decision was limited to prepayment provisions unique to BlackBerry’s license agreement with Qualcomm and has no impact on agreements with any other licensee.
Qualcomm's technologies powered the smartphone revolution and connected billions of people. We pioneered 3G and 4G – and now we are leading the way to 5G and a new era of intelligent, connected devices. Our products are revolutionizing industries, including automotive, computing, IoT, healthcare and data center, and are allowing millions of devices to connect with each other in ways never before imagined. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, all of our engineering, research and development functions, and all of our products and services businesses, including, our QCT semiconductor business.
Source: Qualcomm Inc.