Ericsson settles Samsung patent row
Swedish wireless equipment company Ericsson has settled its legal dispute with Samsung Electronics about global patent licences.
Ericsson said today that the settlement means it will receive a one-off sum and ongoing royalty payments from the South Korean company which will boost its sales in the fourth quarter 2013 by 4.2 billion Swedish kronor (€475m). It said the positive effect on its fourth-quarter net income will be 3.3 billion kronor (€373m).
Shares in Ericsson rose by 2.4% in early trading on the Stockholm stock exchange.
The deal ends complaints made by both companies against each other before the International Trade Commission, as well as lawsuits before the US District Court for the Eastern District of Texas.
