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RIM's first patent payment to Nokia: $65 million

Research In Motion makes first payment to Nokia in Patent settlement.

| Business, Financial & Legal News | Posted: Dec 28, 2012 2:36 pm

After settling a patent dispute last week with Nokia, Research in Motion agreed to make a large one time payment which would be followed up with on-going payments to finish out the debt owed.

 

TweakTown image news/2/7/27534_1_rim_s_first_patent_payment_to_nokia_65_million.jpg

 

A week later and RIM has made the one-time large payment. Reports from the Securities and Exchange Commission, the first payment to Nokia totaled $65 million.

 

"On December 21, 2012, Nokia and RIM announced that they have entered into a new patent license agreement," RIM explained in a 6-K filing. "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 EUR50m (approximately $65m) one-time payment, which has been recorded in the Company's consolidated statement of operations in the third quarter of fiscal 2013."

NEWS SOURCES:Allthingsd.com

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