UPDATE: Reuters report puts a figure to the settlement. According to them, it’s $650 million. Click here for full report.
Samsung seems to be in a cross-licensing mood as the Korean giant has now settled with Ericsson, mere hours after it announced a cross licensing agreement with Google. The cross licensing agreement relates to GSM, UMTS and LTE patents and it ends all the ongoing litigations, including complaints made by both companies against each other before the US International Trade Commission (ITC) as well as the lawsuits before the US District Court for the Eastern District of Texas.
The patents have been licensed on FRAND terms but Samsung or Ericsson are not willing to share intrinsic details. Ericsson claims the agreement will include an initial payment and ongoing royalty payments from Samsung that will affect its financials for Q4 2013 and beginning of 2014.