Microsoft and Samsung lawsuit over Patents settled
Finally, Microsoft and Samsung settled the lawsuit over Patents, though none of the Company officials have revealed the terms.
Year 2014, Microsoft dragged Samsung in Federal Court for breaching the contract for payment of Royalty after Microsoft took over Nokia. Microsoft put forward a claim of $ 1 Bn and $ 6.9 mn for delayed payments. Other side, Samsung defended by saying Nokia acquisition violated deals of 2011.
Based on simple mathematics, Korean Giant was supposed to pay $ 1.6 Bn / year @ $ 5 per smartphone sold . Samsung sells around 318 mn smartphones a year.
Issue started after Microsft took over Nokia and became a competitor of Samsung and later refused to share sensitive information owing to anti-trust regulations. The settlement on Monday also ends Samsung’s request for arbitration with the Hong Kong office of the International Court of Arbitration of the International Chamber of Commerce.