Patent Settlement
A wireless patent dispute between Samsung Electronics and Nokia came to an end after about two years. Accordingly, Samsung Electronics will have to pay about one trillion won in patent fees to Nokia.
According to foreign news services such as Bloomberg on February 1, Nokia announced that they settled the dispute over wireless telecommunications with Samsung Electronics that last for two years. The dispute was settled through a court of arbitration under the International Chamber of Commerce.
Noika announced that thanks to the judgment, its Patent Business Department will enjoy a sales increase of about 1.3 trillion won last year. The two companies had had a dispute over additional patent fees to Nokia that will last for five years from 2014.
The market estimated that this settlement will force Samsung Electronics to pay about 390 billion won in patent fees a year until 2018. This settlement will be retroactively applied to the past two years, as well.