Swedish telecom equipment group Ericsson said on Friday it had agreed to a multi-year global patent license agreement with Apple.
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“The settlement ends all ongoing patent-related legal disputes between the parties,” Ericsson said in a statement.
“Including effects of the settlement, and including ongoing IPR business with all other licensees, Ericsson estimates fourth-quarter 2022 IPR licensing revenues will be 5.5 billion-5.0 billion crowns $530.3-$578.5 million).”
The deal includes global cross-license for patented cellular standard-essential technologies and grants certain other patent rights, Ericsson said.
In January 2022, Ericsson sued Apple for patent infringement of 5G wireless patents in iPhones.
The move came after negotiations failed over the renewal of a seven-year licensing contract for telecom patents first struck in 2015.
Patent lawsuits are quite common among technology companies as every dollar saved could amount to significant amounts over the duration of the agreement as companies such as Ericsson charges between $2.5 to $5 for every 5G handset.
In 2021, Ericsson settled patent lawsuits with Samsung after several months of court battles that temporarily hit its quarterly earnings.
(With Reuters inputs)
