Ericsson said in a statement that the agreement included an initial payment which would boost the company's fourth-quarter profit and revenue by 3.3bn kronor (€375m) and 4.2bn kronor respectively.
"Ericsson and Samsung have reached an agreement on global patent licenses between the two companies," Ericsson said in a statement, adding that the cross license agreement covers patents relating to GSM, UMTS, and LTE standards for networks and handsets.
According to the Swedish company, the multi-year licence deal also guarantees royalty payments from Samsung.
In November 2012, Ericsson filed two patent infringement lawsuits that have now come to an end: one was filed at a US court in Texas and one at the US International Trade Commission.
"We are pleased that we could reach a mutually fair and reasonable agreement with Samsung. We always viewed litigation as a last resort," chief Intellectual Property officer Kasim Alfalahi said.
Samsung also announced it had signed another long-term cross-licence deal with Google in order to prevent potential patent disputes in the future.
According to the South Korean group, the agreement would cover the firms' existing patents and those filed over the next 10 years.
Source: AFP via I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
