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InterDigital News and Company Statements Updated: April 30, 2006
Nokia and InterDigital Battle No More Over 2G: InterDigital Gets $253 Million Payment
(April 28, 2006) hosted by InterDigital Pres/CEO Bill Merritt
INTERDIGITAL PRESS RELEASE
Nokia Agrees to Pay InterDigital $253 Million; Companies Resolve Outstanding 2G Royalty Dispute and Related Litigation Matters as Well as Royalty Issues on Nokia's 3G Sales to Date; InterDigital to Host Conference Call at 9:00 a.m. EDT, April 28
"Throughout this process, we were confident that we would be paid the amounts owed under the Arbitration Award by agreement or by court order," commented William J. Merritt, President and Chief Executive Officer of InterDigital. "Nokia's payment for its sales of 2G-TDMA based products falls within the range of our prior disclosures and is consistent with the royalty rates stated in the Award." Regarding future 3G sales, Mr. Merritt added, "We remain hopeful that we can reach an amicable resolution on this issue on terms acceptable to both parties. By terminating the current license agreement, the parties have a clean slate from which to work and resolve 3G issues." As part of the agreement, Nokia has agreed to dismiss its appeal filed in the United States Court of Appeals for the Second Circuit regarding the Arbitration Award and InterDigital has agreed to withdraw its arbitration demand recently filed with the International Chamber of Commerce dealing with the payment of royalties due under the Award. In addition, Nokia has agreed to withdraw its challenge before the High Court of Justice of England and Wales, Chancery Division, Patents Court as to three InterDigital TDMA-related patents. In exchange for its agreement to withdraw its challenge to these patents, InterDigital has agreed not to assert the three patents (and related non-U.K. counterparts) involved in that case against Nokia and that Nokia will have a worldwide paid-up license for single-mode TIA/EIA-95 products. Based upon its preliminary review of the accounting treatment for this matter, InterDigital believes that the entire $253 million payment will be recognized in its 2006 income statement. The company will provide additional detailed disclosure upon the completion of its analysis. NOKIA PRESS RELEASE:
Nokia and InterDigital Resolve Contract Dispute Espoo, Finland - Nokia and InterDigital have resolved their contract dispute over the patent license agreement originally signed in 1999. The parties had a dispute regarding the impact to Nokia of InterDigital's licenses with Ericsson and Sony-Ericsson. The settlements resolve the legal disputes related to 2G products. Under the settlement agreements, Nokia obtains a fully paid-up, perpetual, irrevocable license to all of InterDigital's current patent portfolio, and any patents InterDigital may later acquire, for purposes of making or selling 2G products, including handsets and infrastructure. The settlements also resolve disputes related to all Nokia products up to the agreement date. "Our prior contract agreement required us to respect the settlements that Ericsson and Sony-Ericsson entered in 2003, but there was a dispute about the impact those other settlements should have on Nokia, " said Ilkka Rahnasto, Vice President, Intellectual Property Rights, Nokia. "This case demonstrates that legal disputes are sometimes necessary in order to lower unrealistic demands". The USD$253 million payment required under the settlement is in line with Nokia's earlier provisions. About Nokia
A variety of MEDIA HEADLINES (April 27- 28 2006) (Thanks to Jim Lurgio for this compilation) Nokia to pay $253 million in royalty dispute Nokia pays $253 million to settle dispute InterDigital shares jump after Nokia settlement InterDigital hits new 52-week high Nokia to pay $253 million in patent dispute Nokia agrees to pay InterDigital $253 million in patent dispute Nokia settles patent dispute for $253 million Nokia settles patent dispute with InterDigital for USD 253 million Nokia resolves patent dispute with Interdigital Nokia to pay USD 253 mln to settle royalty dispute with InterDigital... Nokia To Pay $253 Million To Settle Royalty Dispute With InterDigital... Nokia To Settle 2G Royalty Dispute With InterDigital For US$253 ... Nokia battle no more: InterDigital to get $253M payment InterDigital Settles Royalty Dispute With Nokia, Nokia To Pay $253 ... InterDigital To Receive $253 Mln From Nokia On Outstanding 2G ... Nokia Agrees to Pay InterDigital $253 Million; Companies Resolve ... Nokia pays $253 million to settle dispute InterDigital Hits New 52-Week High Nokia Settles Royalty Dispute with InterDigital, to Pay $253 mln Nokia pays up to settle patent dispute Nokia and Interdigital Resolve 2G / 3G Royalty Issues Nokia pays $253 million to settle dispute NOKIA AGREES TO PAY INTERDIGITAL $253 MILLION Nokia Pays $253M
Corporate Web Site (InterDigital) (An excellent site. Interesting graphics and useful information. Important part of an investor’s DD on InterDigital)
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