Samsung, Qualcomm to renew mobile license deal

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Samsung has announced that it will renew its contract with Qualcomm, extending the current contract to fifteen years, that will give the South Korean mobile maker access to the company’s US patents for 3G and the new 4G (fourth generation) technology.

Samsung will give the wireless technology company a down payment of US$1.3 billion, and will also pay running royalties, though Samsung has not gone into specifics of that portion of the deal. It will also allow Qualcomm access to Samsung’s 57 patents relating to mobile tech, though it will not need to pay Samsung a single cent because of, according to the Yonhap News Agency, the “higher value of Qualcomm’s licenses.”

Qualcomm was previously charged for violating anti-trust regulations by abusing its monopoly over the mobile handset chip market in July, and was fined US$208 million.