BLACKBERRY HAS BEEN awarded $814.9m (around £652m) in an arbitration settlement with Qualcomm.
That £652m sum, which will increase next month when legal fees and interest are added, was awarded to BlackBerry after an arbitration hearing concluded that Qualcomm had been overcharging the company for patent royalties between 2010 and 2015.
This decision came after BlackBerry argued that there was supposed to be a cap on its royalty payments, while Qualcomm argued that BlackBerry's payments were supposed to be non-refundable.
Cash-strapped BlackBerry is, unsurprisingly, pleased with the ruling. John Chen, Executive Chairman and CEO of BlackBerry, said: "BlackBerry and Qualcomm have a longstanding relationship and continue to be valued technology partners.
"We are pleased the arbitration panel ruled in our favor and look forward to collaborating with Qualcomm in security for ASICs and solutions for the automotive industry."
Qualcomm isn't quite so chuffed, and said in statement that while it "does not agree with the decision, it is binding and not appealable."
Trading of BlackBerry's stock was briefly halted ahead of the announcement. It has since resumed and shares are up more than 10 percent.
Wednesday's decision in BlackBerry's favour likely has Apple's lawyers rubbing their hands together, as Apple in January launched a $1bn lawsuit at Qualcomm, claiming the firm deliberately overcharged for its technologies and refused to cough-up promised rebates.
"For many years Qualcomm has unfairly insisted on charging royalties for technologies they have nothing to do with," Apple said in a statement at the time.
"The more Apple innovates with unique features such as TouchID, advanced displays, and cameras, to name just a few, the more money Qualcomm collects for no reason and the more expensive it becomes for Apple to fund these innovations."
Just this week, Qualcomm announced plans to countersue Apple. µ
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