Samsung vs Ericson Lawsuit - Pic credit Reuters
STOCKHOLM Samsung Electronics Co will pay Ericsson $650 million along with years of royalties to end a technology licence spat, the Swedish company said on Monday.
The world's No. 1 mobile network equipment maker sued Samsung in 2012 on the grounds that the Korean firm had infringed patents involving technology for clearer voice transmission, touchscreen functions and network efficiency.
The smartphone and tablet maker, which is increasingly active in network equipment, made a counter claim.
The initial payment will lift fourth-quarter sales by 4.2 billion Swedish crowns and net income by 3.3 billion, Ericsson said in a statement.
Analysts in a Reuters poll had forecast fourth quarter net sales of 65.1 billion crowns and net income of 4.0 billion.
Ericsson declined to give further details of the agreement.
Read more: The Star Online