BlackBerry awarded $815 million in Qualcomm arbitration

BlackBerry wins case against Qualcomm

Qualcomm Inc. the mobile chipmaker was asked to refund $814.9 million to BlackBerry in an arbitration settlement for past sales royalties. This also showed a seismic change in the market for BlackBerry. As its shares were up by 16 percent at $8.94. And Qualcomm was down by 1 percent at $54.81.

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Both the tech companies decided back in 2016, to arbitrate a dispute. This was over Qualcomm’s agreement to cap-off royalties applied to payments made by BlackBerry under a licensing deal.

Qualcomm issued a statement on Wednesday saying that they do not agree with the decision made by the arbitration panel, But due to this being binding and non-appealable. They will comply.

Qualcomm has been going through a lot with losing this case. And also a lawsuit filed by Apple Inc. Where the company is being accused of overcharging for chips. And refusing to pay the rebates of $1 billion to Apple.

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Qualcomm’s problems do not end here

Qualcomm is also fighting a lawsuit filed by Apple Inc. Accusing the company of overcharging for chips and refusing to pay some $1 billion in promised rebates. The United States government has also accused Qualcomm of resorting to anticompetitive tactics to maintain a monopoly in the market of mobile phone semiconductors.

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BlackBerry also has said that the final amount of the interest and attorneys’ fee. Will be issued after the┬áhearing on May 30, 2017. BlackBerry had been represented by Sullivan & Cromwell LLP in the preceding.

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