December 26, 2012 10:52am
RIM and Nokia settled all their patent infringement issues last week. Nokia was granted a one-time payment plus ongoing royalties. At the time the terms of the deal were not disclosed, but according to a Securities and Exchange Commission filing (form 6-K) RIM has paid out a one-time payment of $65 million.
“On December 21, 2012, Nokia and RIM announced that they have entered into a new patent license agreement. The agreement will result in the settlement of all patent litigation between the companies and Nokia’s dismissal of all pending actions in the United States, United Kingdom, Canada and Germany. The financial structure of the agreement includes a lump sum €50 million (approximately $65 million) one-time payment, which has been recorded in the Company’s consolidated statement of operations in the third quarter of fiscal 2013.”
There was no word on the ongoing royalty payments. $65 million is still a big chunk of money, but in perspective, RIM recently announced their Q3 results and declared they have $2.9 billion in cash with no debt. RIM will be showing their new BlackBerry 10 OS and two new BlackBerry 10 smartphones on January 30th, 2012.