Qualcomm set to receive $2.3 billion from Nokia

In an ongoing royalty dispute, it would appear as though Qualcomm and Nokia have reached a settlement agreement. The CDMA chipset maker is going to receive $2.3 billion from Nokia as part of the deal and while that is a ton of cash not to be scoffed at, the current recession and bailouts make it seem like worthless Monopoly money. This is definitely not the time for any company to be paying stiff settlement fees! On top of Nokia’s poor Q3 figures , the settlement is one thing they could have done without. The battle between Qualcomm and Nokia had gone on for quite some time and if you didn’t know or hadn’t heard about it, Nokia was using Qualcomm’s chipsets in their 3G devices without proper licensing from Qualcomm. However, over the summer Nokia and Qualcomm did enter into a 15-year agreement for Nokia to license and use Qualcomm’s chips in future devices. Still, the payment for the prior dispute is hefty and it’s not going to be in installments, either: Qualcomm wants the sum paid in full as one lump sum. Desperate times call for desperate measures… this should help them out a bit in the other fight the chip-maker has going –  Qualcomm vs. Broadcom!

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