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© firaxissmooke dreamstime.com Business | April 14, 2017

Qualcomm to refund BlackBerry

Qualcomm is to refund a sum of USD 814.9 million, plus interest and attorneys’ fees, to BlackBerry Incorporated related to royalties for certain past sales of subscriber units.
The parties had agreed to arbitrate a contract dispute relating to one specific issue: whether Qualcomm’s voluntary per unit royalty cap program applied to BlackBerry’s non-refundable prepayments of royalties for sales of a specified number of subscriber units from 2010 through the end of 2015.

While Qualcomm does not agree with the decision, it is binding and not appealable. The arbitration decision was limited to prepayment provisions unique to BlackBerry’s license agreement with Qualcomm and has no impact on agreements with any other licensee.

"BlackBerry and Qualcomm have a longstanding relationship and continue to be valued technology partners," said John Chen, Executive Chairman and CEO of BlackBerry. "We are pleased the arbitration panel ruled in our favor and look forward to collaborating with Qualcomm in security for ASICs and solutions for the automotive industry."

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October 16 2017 2:56 PM V8.8.6-2