Sign in with
Sign up | Sign in

RIM's Patent Payment to Nokia Begins at $65 Million

By - Source: AllThingsD | B 5 comments

BlackBerry maker will also pay Finnish counterpart ongoing payments.

Research In Motion will pay an initial payment of $65 million to Finnish mobile manufacturer Nokia as part of the two firms' patent royalty deal.

RIM had agreed to deliver a one-time payment to Nokia to settle the cases, which has now been revealed to be $65 million, with the payment being disclosed in the former's most recent 6-K filing to the U.S. Securities and Exchange Commission.

The Canadian firm will also offer Nokia "ongoing payments" for the right to use its patents related to WiFi technology found in BlackBerry handsets.

The new patent license agreement ends all patent litigation between the companies, which also saw Nokia dismissing all pending actions in the United States, United Kingdom, Canada and Germany.

RIM recently revealed its financial results for the third quarter, reporting a profit of $14 million, or 3 cents a share, which was predominately due to a favorable tax settlement. Revenue, however, decreased by nearly half to $2.72 billion, with the firm also seeing the number of BlackBerry consumers decreasing by a million.

It'll launch its forthcoming BlackBerry 10 operating system on January 30, which is the same date the firm will announce the first smartphones powered by the platform.


Contact Us for News Tips, Corrections and Feedback

Display 5 Comments.
This thread is closed for comments
  • 3 Hide
    fuzzion , December 29, 2012 5:13 AM
    A long time ago, maybe like 2 years, owning a BB was boss. Lets hope
    duke nukem forever , sorry i meant bb10 gets released soon.
  • -5 Hide
    cinergy , December 29, 2012 6:18 AM
    That's what you get from stealing patents RIM. Good luck with your BBW systems, you'll need that.
  • -4 Hide
    halcyon , December 29, 2012 8:13 AM
    Cripple-fight over?
  • 3 Hide
    back_by_demand , December 29, 2012 12:50 PM
    Is it just me or was the legal case and the settlement just more civilised than the childish tantrums of the fruity one?
  • 2 Hide
    matt_b , December 29, 2012 11:35 PM
    I would say that bickering lawsuits like this is the result when you have two sinking ships on course towards one another, but then Apple vs Samsung seems to be in the back of my mind still. Patent reform finished yet?