Samsung, Microsoft settle contract dispute over patent royalties

Samsung Electronics and Microsoft have settled their contract dispute in U.S. court as well as the ICC arbitration, said both the companies in a joint statement. Back in August last year Microsoft sued Samsung accusing it of breaching a collaboration agreement by initially refusing to make royalty payments after it announced its intention to acquire Nokia’s handset business in September 2013. It claimed that Samsung still owed $6.9 million in interest on more than $1 billion patent in royalties. In November last year Samsung claimed that Microsoft has violated their deal after acquiring Nokia as it now makes the software company a direct hardware competitor. Samsung filed the request for arbitration with the Hong Kong office of the International Court of Arbitration of the International Chamber of Commerce. Soon after Samsung lost its bid to US Judge about putting the Microsoft smartphone patent royalties suit on hold. Finally the settlement on Monday ended the contract dispute and also Samsung's request for arbitration with the Hong Kong office of the International Court of Arbitration of the International Chamber of Commerce. These companies did not reveal the terms of the settlement since its confidential. Via

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