BlackBerry has won about $815 million as a refund for overpayments made to Qualcomm. The award is non-appealable and has seen BlackBerry’s stock jump by 15 percent since the announcement.<\/b>
BlackBerry has won a refund for overpayments of about $815 million in an arbitration against Qualcomm. The non-appealable award will include interest and attorneys‘ fees, which are yet to be determined; the final award will be issued after a hearing on May 30.
Details remain scarce, but the dispute arose following Qualcomm\u2019s agreement to put a cap on certain royalty payments, with a disagreement over whether the cap was applicable on some payments made by BlackBerry. Proceedings ended on March 3 but were only made public today.
In an official statement , BlackBerry CEO John Chen said:
BlackBerry\u2019s win handed down by the arbitration panel has helped its stock jump 15 percent since the announcement.
Qualcomm\u2019s official statement on the case emphasizes that this refund is unique to BlackBerry:
Qualcomm is also going through a patent lawsuit against Apple, who sued the chipmaker for about $1 billion in January this year.
BlackBerry recently announced that it would start licensing its brand on anything from tablets to wearables. A BlackBerry-branded phone by TCL was unveiled at the Mobile World Congress earlier this year but is only expected to go into production around the end of this month.
Source: BlackBerry , Qualcomm via Reuters<\/p>\n