TORONTO: An arbitration court ordered smartphone pioneer BlackBerry to pay $137 million to Nokia to settle a payment dispute and the Canadian company said it would pursue a separate patent infringement case against the Finnish firm.
The International Court of Arbitration ruled earlier this week that BlackBerry had failed to make certain payments to Nokia under a patent licence contract, BlackBerry said yesterday.
The ruling, in a previously undisclosed disagreement over a smartphone technology licensing deal signed in 2012, highlights the financial risks technology companies face from disputes over intellectual property, which are sometimes resolved through confidential arbitration processes unknown to investors.
BlackBerry won a $940m payout from chipmaker Qualcomm earlier this year in a similar case of disputed payments.
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