BlackBerry awarded over $814 million back from Qualcomm in royalty overpayments
Posted by ishubhamsingh
BlackBerry is going to be getting a lot of money back from its partner Qualcomm soon. The company revealed today that the final results of an arbitration for the two companies will result in BlackBerry getting back over $814 million in royalty overpayments from the mobile processor maker.
The two companies agreed to enter arbitration to settle this overpayments dispute in April 2016. At the time, BlackBerry contented that a previous contract made with Qualcomm to cap certain royalties also applied to payments made by the Canadian company, under an older license agreement. The arbitration resulted in a decision in BlackBerry’s favor. The final amount of the award, which will include items like interest and attorneys’ fees, will be revealed after another hearing on the matter on May 30.
BlackBerry stated in a press release that it was “pleased the arbitration panel ruled in our favor”. In its own press statement, Qualcomm said that while it does not agree with how this arbitration worked out, it admitted that “it is binding and not appealable”. It added that this decision only apples to BlackBerry, and will not affect its license agreements with any other company.
This decision comes just a few months after Qualcomm got sued by Apple in January, claiming Qualcomm overcharged for the use of its patents. Earlier this week, Qualcomm countersued Apple, claiming Apple was “misrepresenting facts and making false statements.”
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