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Samsung to pay Ericsson $650 million plus royalties to end patent spat

27
Jan
2014

By Simon Johnson STOCKHOLM (Reuters) – Samsung Electronics Co will pay Ericsson $650 million along with years of royalties to end a technology license spat, the Swedish company said on Monday. The worlds No. 1 mobile network equipment maker sued Samsung in 2012 on the grounds that the Korean firm had infringed patents involving technology for clearer voice transmission, touchscreen functions and network efficiency. The initial payment will lift fourth-quarter sales by 4.2 billion Swedish crowns ($652 million) and net income by 3.3 billion, Ericsson said in a statement. Ericsson declined to give further details of the agreement or what royalties Samsung would pay, but its shares rose 2.4 percent by 1123 GMT (6.23 a.m. ET) as markets anticipated billions of crowns of extra revenue for the Swedish firm for years to come.

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