You are here: Home » Reuters » News
Business Standard

BlackBerry to pay Nokia $137 million in payment dispute

BlackBerry said it plans to take a charge as a result of the ruling, but did not disclose when it would record it.

Reuters 

BlackBerry to raise $605 million from shareholder Fairfax, others

Canadian software maker BlackBerry Ltd said on Friday that it would pay Corp $137 million, according to a ruling by the International of Arbitration.

BlackBerry said it plans to take a charge as a result of the ruling, but did not disclose when it would record it.

The Canadian company said the was related to certain payments due under a patent license contract between the companies.

The did not involve any allegations of intellectual property (IP) infringement and BlackBerry said it would continue to pursue separate patent infringement claims against

Monetizing BlackBerry's IP is a key part of Chief Executive John Chen's plan for turning around the company whose revenues have declined for six straight years as sales of its once ubiquitous smartphones have tumbled.

Shares of the company were down 1.2 per cent at C$13.75 on the Toronto Stock Exchange.

First Published: Fri, December 01 2017. 20:58 IST
RECOMMENDED FOR YOU