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The Canadian Press - ONLINE EDITION

Ericsson settles patent dispute with Samsung, receives $651 million payment

STOCKHOLM - Swedish wireless equipment company LM Ericsson AB says it has settled a legal dispute with Samsung Electronics Co. about global patent licenses.

Ericsson said Monday the settlement means it will receive a one-off sum and ongoing royalty payments from the South Korean company that will boosts its sales in the fourth quarter 2013 by 4.2 billion Swedish kronor ($651 million). It said the positive effect on its fourth-quarter net income will be 3.3 billion kronor.

Shares in Ericsson rose by 2.4 per cent to 76.85 kronor in early trading on the Stockholm stock exchange.

This deal ends complaints made by both companies against each other before the International Trade Commission, as well as the lawsuits before the U.S. District Court for the Eastern District of Texas.

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