Why Is Nokia Getting $137 Million from Blackberry?
Nokia and BlackBerry fought quietly
A quietly fought patent licensing dispute has yielded $137 million for Nokia (NOK) and has cost BlackBerry (BB) a similar loss. It turns out that a few years ago, Nokia and BlackBerry entered a patent licensing agreement tied to smartphone technology (QQQ). But at some point, the companies disagreed, and they took their dispute to the ICA (International Court of Arbitration).
After hearing arguments from the disputing parties, the ICA ruled that BlackBerry should pay Nokia $137 million for failing to release certain payments tied to their patent licensing contract. The patent dispute between Nokia and BlackBerry that the ICA recently ruled on had not been disclosed previously, Reuters reported.
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BlackBerry not done with Nokia
In response to the ICA ruling, Nokia issued a statement saying that it was happy with the verdict. But BlackBerry has more bones to pick with Nokia. The company is pursuing Nokia in the US (SPY) and Germany (EWG) over alleged infringement of more than ten patents.
BlackBerry clawed over $900 million from Qualcomm
For BlackBerry, the ICA verdict will likely see the company split a portion of the $940 million that it also clawed from Qualcomm (QCOM) earlier this year, in another patent dispute case. For Nokia, the decision by the ICA in the matter of BlackBerry continues a period of wins for its technology unit, which has recently inked patent licensing deals with Apple and Xiaomi. Nokia Technologies recorded revenue growth of 37% year-over-year in 3Q17.