May 26, 2017
BlackBerry said to receive US$940M in final Qualcomm resolution
The Canadian Press
WATERLOO, Ont. - BlackBerry Ltd. (BB.TO) says it will receive US$940 million from Qualcomm by May 31 to settle a dispute over royalty payments.
An arbitrator sided with BlackBerry in April, and announced an interim award of US$814.9 million plus additional amounts for interest and legal fees.
It was previously expected that a final award would be decided after a hearing on May 30.
San Diego-based Qualcomm (QCOM.O) receives royalty payments for the use of specialized chips used in smartphones, including BlackBerry products.
The dispute centred on a rebate that BlackBerry sought under the terms of a 2016 agreement with Qualcomm.
