Multinational: Samsung waves white flag in patent battle

South Korean wireless device giant Samsung has reportedly waved the white flag to end a patent spat with Swedish rival Ericsson.

Samsung will reportedly pay $650 million, along with years of patent royalties, to the world’s largest mobile network equipment maker to end a dispute over patent infringement.

Ericsson launched litigation against Samsung in 2012 claiming Samsung infringed on patents involving voice transmission, touchscreen technology and others.

Samsung fought back with its own counter-claim against Ericsson, but reports say Samsung has abandoned its attack and agreed to pay the fees.

Ericsson declined to elaborate on the exact royalties Samsung agreed to pay in addition to the $650 million, and did not specify how long the agreement between the two will last. Ericsson Chief Intellectual Property Officer Kasim Alfalahi noted to reporters that such agreements cover between four and seven years.

Full Content: Yahoo Finance

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