BlackBerry loses to Nokia in Court, will pay $137 million.

Its look like the disputes will never end, usually we see BlackBerry win but today the outcome is different as BlackBerry lost the latest dispute to Nokia over Patent agreement infringes. The court ruled that BlackBerry will pay Nokia around $137 Millions for money that BlackBerry didn’t pay while the agreement was active.

Read the full statement from BlackBerry,

BlackBerry Accepts Ruling of International Chamber of Commerce International Court of Arbitration in Payment Dispute Filed by Nokia

WATERLOO, ONTARIO–(Marketwired – Dec. 1, 2017) – BlackBerry Limited (NYSE:BB)(TSX:BB) today announced that the International Chamber of Commerce’s International Court of Arbitration has ruled against the company in a contract dispute with Nokia Corporation.

On April 28, 2016, Nokia filed a Request for Arbitration with the International Chamber of Commerce International Court of Arbitration. The dispute related to whether certain payments allegedly due under a patent license contract between the companies are in fact owed to Nokia under the terms of the agreement. On November 29, 2017, the arbitration panel awarded Nokia approximately $137 million.

The dispute did not involve any allegations of IP infringement and BlackBerry is continuing to pursue patent infringement claims against Nokia via suits filed in both Germany and the U.S.

In a prepared statement the company said: “BlackBerry is disappointed that the Court of Arbitration did not agree with our arguments in the case but we accept their decision. This ruling does not change BlackBerry’s assertion that Nokia is infringing on our intellectual property and we are continuing to vigorously pursue legal remedies in both the U.S. and Germany.”

BlackBerry will record the amount of the award as a one-time GAAP-only charge.

About BlackBerry BlackBerry is a cybersecurity software and services company dedicated to securing the enterprise of things. Based in Waterloo, Ontario, the company was founded in 1984 and operates in North America, Europe, Asia, Australia, Middle East, Latin America and Africa. The Company trades under the ticker symbols “BB” on the Toronto Stock Exchange and “BB” on the New York Stock Exchange. For more information, visit www.BlackBerry.com.

 

Roy Shpitalnik

lived the life of a BlackBerry since 2009 so I was first exposed to 8900. With Israeli cellular world history, training and knowledge for more on BlackBerry, I decided to join the community. When the Media bash BlackBerry on regular basis i decided to Join BerryIL.COM. The true must be published. Contact me on Twitter : @SimpleBerryRoy

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