RIM Paid $65 Million To Nokia As Part Of The Patent Dispute Settlement

RIM Paid $65 Million To Nokia As Part Of The Patent Dispute Settlement

December 26, 2012 | By Pradeep

Earlier this month, Blackberry maker RIM agreed to pay Nokia to end their patent disputes which they fought in several courts around the world. According to FORM 6-K filed by RIM to Securities and Exchange Commission, Nokia received over $65 million from RIM as part of the patent settlement this year.

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.

We are not sure how much Nokia will receive each year from RIM for licensing costs apart from this one time payment. It will be revealed once RIM files their FORM 6-K again next time.