Verizon Wireless has inked a deal with Broadcom and will no longer fight to overturn the ITC ban on Qualcomm's chips and certain mobile phones. Under the agreement, Verizon Wireless will pay Broadcom $6.00 for each 1xEV-DO handset, PDA or data card sold after the effective date, with a maximum payment of $40 million per calendar quarter and a lifetime maximum payment of $200 million. The agreement also provides Verizon a license to the six Broadcom patents currently being litigated between Broadcom and Qualcomm.
"We are pleased to have worked out an agreement with Broadcom to ensure continued delivery of new and innovative products to our customers," said Lowell C. McAdam, President and Chief Executive Officer of Verizon Wireless. "A market-based solution, like the one our two companies have announced today, is the most effective way to resolve these kinds of intellectual property issues."
"We did this to create certainty for our customers. We wanted to take them out of the middle of this patent dispute," Nancy Stark, Verizon Wireless spokeswoman told FierceWireless. "We made sure our supply chain wouldn't be interrupted."
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"We are pleased to have worked out an agreement with Broadcom to ensure continued delivery of new and innovative products to our customers," said Lowell C. McAdam, President and Chief Executive Officer of Verizon Wireless. "A market-based solution, like the one our two companies have announced today, is the most effective way to resolve these kinds of intellectual property issues."
"We did this to create certainty for our customers. We wanted to take them out of the middle of this patent dispute," Nancy Stark, Verizon Wireless spokeswoman told FierceWireless. "We made sure our supply chain wouldn't be interrupted."
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