Qualcomm to Refund BlackBerry $814.9M Following Royalty Arbitration
In a landmark arbitration ruling, chipmaker Qualcomm Inc. has been ordered to refund BlackBerry Ltd. $814.9 million in overpaid royalties from past sales. The binding decision marks a significant victory for the Canadian tech company in its long-standing dispute with the semiconductor giant.
Key Developments
- Market Impact: BlackBerry’s U.S.-listed shares surged 16% to $8.94 in premarket trading following the announcement, while Qualcomm shares dipped 1% to $54.81.
- Dispute Origin: The arbitration stems from a 2016 disagreement over Qualcomm’s royalty caps applied to BlackBerry under a licensing agreement.
- Legal Finality: Qualcomm stated it disagrees with the ruling but acknowledged the decision is binding and non-appealable.
Broader Legal Context
This ruling adds to Qualcomm’s growing legal challenges:
- Apple Lawsuit: The company is currently battling allegations from Apple Inc. of overcharging for chips and withholding $1 billion in rebates.
- Antitrust Concerns: The U.S. government has accused Qualcomm of anti-competitive practices to maintain its mobile chipset monopoly.
Next Steps
- A final award including interest and legal fees will be determined after a May 30 hearing.
- BlackBerry was represented by Sullivan & Cromwell LLP in the proceedings.
This case highlights the complex dynamics of technology licensing agreements and sets an important precedent for royalty disputes in the semiconductor industry.
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