InterDigital and Samsung agree to renew license agreement – final terms determined in binding arbitration
January 03 2023 - 6:30AM
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology
research and development company today announced that it has agreed
to renew its patent license agreement with Samsung Electronics. The
parties will enter into binding arbitration to determine the final
terms, including the amount payable by Samsung under the new
agreement.
Samsung’s previous license to InterDigital’s portfolio of
cellular wireless and video technologies expired on December 31st
2022. The new license will be effective from January 1st 2023.
“While we always prefer to conclude our license agreements
through amicable good faith negotiation, independent binding
arbitration provides an effective mechanism for resolving licensing
disputes,” commented Liren Chen, CEO and President, InterDigital.
“I welcome Samsung’s willingness to enter into a new license with
us and their commitment to work through the remaining issues in
arbitration.”
About InterDigital®
InterDigital develops mobile and video
technologies that are at the core of devices, networks, and
services worldwide. We solve many of the industry’s most critical
and complex technical challenges, inventing solutions for more
efficient broadband networks, better video delivery, and richer
multimedia experiences years ahead of market deployment.
InterDigital has licenses and strategic relationships with many of
the world’s leading technology companies. Founded in 1972,
InterDigital is listed on NASDAQ. InterDigital is a registered
trademark of InterDigital, Inc.
For more information,
visit: www.interdigital.com.
InterDigital Contact: Richard
LloydEmail: richard.lloyd@interdigital.com+1 (202)
349-1716
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