InterDigital and Samsung agree to renew license agreement – final terms determined in binding arbitration
WILMINGTON, Del., Jan. 03, 2023 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company today announced that it has agreed to renew its patent license agreement with Samsung Electronics. The parties will enter into binding arbitration to determine the final terms, including the amount payable by Samsung under the new agreement.
Samsung’s previous license to InterDigital’s portfolio of cellular wireless and video technologies expired on December 31st 2022. The new license will be effective from January 1st 2023.
“While we always prefer to conclude our license agreements through amicable good faith negotiation, independent binding arbitration provides an effective mechanism for resolving licensing disputes,” commented Liren Chen, CEO and President, InterDigital. “I welcome Samsung’s willingness to enter into a new license with us and their commitment to work through the remaining issues in arbitration.”
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ. InterDigital is a registered trademark of InterDigital, Inc.
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InterDigital Contact:
Richard Lloyd
Email:
+1 (202) 349-1716
