Samsung Strikes New Cross-Licensing Deal with Qualcomm
Samsung and Qualcomm recently announced a renewed cross-licensing agreement regarding each firms' patents in mobile and wireless technology. Samsung will be making use of up to 57 of Qualcomm's 3G and 4G patents. Samsung will make a down payment of $1.3 billion for use of the patents, and then ongoing royalty costs, which were undisclosed. Qualcomm will also use some of Samsung's patents, but because Qualcomm's patents are much more valuable, it is not making any payments to Samsung. This agreement extends a previous agreement for an additional 15 years and a Samsung spokesperson said, "The new deal is better for us."