The companies in 2016 chose to arbitrate a dispute over Qualcomm's agreement to cap certain royalties applied to payments made by BlackBerry under a licensing deal.
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The arbitration decision comes just a day after the latest twist in Qualcomm's ongoing legal dispute with Apple AAPL.
BlackBerry's agreement to use Qualcomm's modems and other technology in its smartphones involved a bulk prepayment of royalty fees based on the expected sales volume of the devices, according to the San Diego Union Tribune.
The arbitration hearings took place from February 27th to March 3rd and while the matter was stitched up several weeks back, the public announcement has been made today.
BlackBerry argued that it was overpaying Qualcomm in royalty payments.
Tax Deadline Day Is Fast Approaching To apply for an extension in nearly all cases, you must file IRS Form 4868 prior to the April 18th filing date. Thanks to Emancipation Day , the filing deadline is April 18, 2017, to file your taxes for the 2016 tax year.
The Toronto Stock Exchange's S&P/TSX composite index settled down 78.71 points, or 0.50 percent, at 15,648.40, with half its 10 main groups in negative territory.
Qualcomm in a statement issued on Wednesday said that it does not agree with the decision on the binding interim arbitration award. The suit contends that Qualcomm insists on onerous royalties for its technologies and demands royalties for technologies it didn't develop-such as Apple's Touch ID.
Blackberry Ltd (NASDAQ: BBRY), the mobile phone giant, stepped out of the shadows on Wednesday, to reveal it had been awarded an eye popping $814.9mln following arbitration.
In my opinion, with more than half of BlackBerry's current market capitalization now in cash (including the money due from Qualcomm), buying the shares even after this morning's pop is more than likely a good idea.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
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