updated 04:00 pm EST, Mon November 9, 2009
Samsung, Qualcomm renew wireless license
Samsung last week said it has created a new 15-year contract with Qualcomm to use its 3G and 4G wireless technology. Under the terms of the agreement, Samsung will made a down payment of $1.3 billion to Qualcomm along with running royalties, though specifics on these were not disclosed. Samsung will also share its 57 patents for mobile technology with Qualcomm, though it will not be paid for this because Qualcomm's licenses are valued higher.
Samsung also said the new contract is a better deal for the company than the old one, but has not mentioned why. San Diego-based chipmaker Qualcomm is also pleased, as the agreement gives it access to Korea's lucrative cell phone market. [via TelecomsKorea]