BlackBerry expecting US$940 million in Qualcomm dispute resolution
BlackBerry's headquarters in Waterloo, Ont. is shown on Wednesday, June 22 , 2016. (THE CANADIAN PRESS/Eduardo Lima)
The Canadian Press
Published Friday, May 26, 2017 9:10AM EDT
WATERLOO, Ont. -- BlackBerry Ltd. (TSX:BB) says it will receive US$940 million from Qualcomm by May 31 to settle a dispute over royalty payments.
An arbitrator sided with BlackBerry in April, and announced an interim award of US$814.9 million plus additional amounts for interest and legal fees.
It was previously expected that a final award would be decided after a hearing on May 30.
San Diego-based Qualcomm receives royalty payments for the use of specialized chips used in smartphones, including BlackBerry products.
The dispute centred on a rebate that BlackBerry sought under the terms of a 2016 agreement with Qualcomm.