BlackBerry awarded $815 million in dispute with Qualcomm

NEW DELHI: Canada-based BlackBerry has announced that it has been awarded $814.9 million in a binding interim arbitration decision in a dispute with Qualcomm over royalty over payments.

"BlackBerry Limited has announced a binding interim arbitration decision awarding BlackBerry $814,868,350.00 in royalty overpayments made to Qualcomm Incorporated. A final award including interest and reasonable attorneys' fees will be issued after a hearing on May 30, 2017," the company said in a statement.

"On April 20, 2016, BlackBerry and Qualcomm entered into an agreement to arbitrate a dispute regarding whether Qualcomm's agreement to cap certain royalties applied to payments made by BlackBerry under a license agreement between the parties. The binding arbitration hearing was held in San Diego, California from February 27, 2017 to March 3, 2017 under Judicial Arbitration and Mediation Services rules. BlackBerry was represented by Sullivan & Cromwell LLP in the proceeding,"  a statement said.

"BlackBerry and Qualcomm have a longstanding relationship and continue to be valued technology partners," said John Chen, Executive Chairman and CEO of BlackBerry.

"We are pleased the arbitration panel ruled in our favor and look forward to collaborating with Qualcomm in security for ASICs and solutions for the automotive industry," he added.