BlackBerry wins $815 million in dispute with Qualcomm
BlackBerry wins $815 million in dispute with Qualcomm
A man walks past an old Toronto Stock Exchange sign in Toronto
13 April, 2017, 02:39
The mobile chip giant said that the BlackBerry case revolved around a single issue on whether Qualcomm's voluntary per-unit royalty cap applied to BlackBerry's non-refundable royalty prepayments for subscriber units between 2010 and 2015. In spite of the dispute, the Canadian company's management said they will continue to work with the chip maker, particularly on automotive security products and integrated circuits for specific applications.
BlackBerry surged 17.2 percent to C$12.04, its highest level since January 2016, after Qualcomm was ordered to repay it $814.9 million in royalty payments.
Qualcomm said it did not agree with the decision but the arbitration agreement can not be challenged.
BlackBerry contended that it overpaid royalties to Qualcomm. The announcement sent BlackBerry shares up as much as 19 percent in NY, the most intraday since January 2015.
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Qualcomm's licensing business has been under scrutiny recently, as a number of antitrust regulatory agencies around the world have been investigating its practices, while Apple has also started a global legal battle alleging that Qualcomm has acted anti-competitively.
"We believe any acquisitions to build out BlackBerry's IoT sales channel would be attractive", analyst Daniel Chan said in a note. Qualcommalso noted that the arbitration panel's ruling is not appealable.
Qualcommhit back at Apple this week, claiming in a countersuit that the iPhone vendor "breached" and "mischaracterized" agreements with the chipmaker and interfered in deals with Qualcomm licensees.
BlackBerry garners sales from smartphones, services, and security software.
Apple later filed its own $1 billion lawsuit against Qualcomm (and subsequent suits in two other countries) over royalties for basic patents, claiming that Qualcomm forced it to pay excessive fees and withheld almost $1 billion "as retaliation for responding truthfully to law [South Korean] enforcement agencies investigating them".
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