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Friday, February 26, 2021

Ericsson and Samsung settle patent dispute, lawsuit in Texas court

STOCKHOLM (AP) — Swedish wireless equipment company LM Ericsson AB says it has settled a legal dispute with Samsung Electronics Co. about global patent licenses.

Ericsson said Monday the settlement means it will receive a one-off sum and ongoing royalty payments from the South Korean company that will boosts its sales in the fourth quarter 2013 by 4.2 billion Swedish kronor ($651 million). It said the positive effect on its fourth-quarter net income will be 3.3 billion kronor.

Shares in Ericsson rose by 2.4 percent to 76.85 kronor in early trading on the Stockholm stock exchange.

This deal ends complaints made by both companies against each other before the International Trade Commission, as well as the lawsuits before the U.S. District Court for the Eastern District of Texas.

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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