BlackBerry Awarded U.S. $814868350.00 in Arbitration Against Qualcomm

The issue discussed in the arbitration was that whether Qualcomm's voluntary per unit royalty cap program applied to BlackBerry's non-refundable payments of royalties due on sales of certain handsets from 2010 through to the end of 2015. "We are pleased the arbitration panel ruled in our favor and look forward to collaborating with Qualcomm in security for [application specific integrated circuits] and solutions for the automotive industry".

To view the full article, register now. The decision is the latest setback for Qualcomm, which has been the recipient of a lawsuit from Apple and the subject of multiple government investigations into its business practices.

The San Diego-based chip maker says the decision is limited to provisions unique to BlackBerry's license agreement with Qualcomm.

BlackBerry has long claimed that it has been overpaying Qualcomm for royalties related to Qualcomm patents.

Qualcomm said decision is binding and not appealable.

On Wednesday (April 12), shares of BlackBerry climbed 15.19 percent on the NASDAQ to reach $8.85, while its shares soared 14.90 percent on the Toronto Stock Exchange to $11.80.

Shares of BlackBerry shot up almost 18% following the announcement.

Shares of Blackberry Ltd. (BB.T) were on track to open at a 15-month high Wednesday, after in its dispute with Qualcomm Inc. Apple also stated that "For many years Qualcomm has unfairly insisted on charging royalties for technologies they have nothing to do with".

In January the FTC in the U.S. filed charges against Qualcomm, alleging the latter uses anticompetitive tactics to stop rivals supplying components to handset companies.

Qualcomm yesterday countersued Apple, striking out at what it says are Apple's alleged efforts to undermine and devalue its contribution to the technologies that power the iPhone.

Latest News