Samsung and Microsoft come to an agreement on their contract dispute
Samsung today released a brief press release to announce that its contract dispute with Microsoft has ended in the U.S. Court.
In August last year, Microsoft had sued Samsung in the U.S. District Court of Southern District of New York for not paying royalties on all the cross-licensed intellectual properties that it has been using in its smartphones since 2011. While Samsung paid its royalties in 2011 and 2012, it stopped paying them in 2013, when its smartphone division reached its peak and it became the largest smartphone vendor in the world.
“Samsung and Microsoft are pleased to announce that they have ended their contract dispute in U.S. court as well as the ICC arbitration. Terms of the agreement are confidential.” – Samsung’s Jaewan Chi, Executive Vice President and Global Legal Affairs & Compliance Team and Microsoft’s David Howard, Corporate Vice President and Deputy General Counsel.
In addition to their contract dispute, both companies have also ended their ICC arbitration, which is a good news as well. Since Samsung and Microsoft have kept the terms of the agreement confidential, the amount of money exchanged, if any, between both parties are unknown.
Nevertheless, at least there is now one less court battle going on in the smartphone industry.