According to Reuters, this confidential settlement came days into a trial that opened in one of the two lawsuits last week. Huawei and Verizon filed joint motions to dismiss both cases and Verizon’s counterclaims late on Sunday in two U.S. courts in Texas.
“Pleased that Verizon and Huawei reached an agreement that ends the companies’ patent litigation. The terms of the agreement are confidential,” said Huawei.
The world’s largest telecom equipment maker said that it has over 100,000 active patents worldwide, including around 10,000 U.S. patents.
“happy with the settlement reached with Huawei involving patent lawsuits. While terms of the settlement are not being disclosed, our team did an outstanding job bringing this protracted matter to a close,” said Verizon.
In 2020, Huawei filed lawsuits in U.S. District Courts for the Eastern and Western Districts of Texas. The company is seeking compensation for Verizon’s use of patent technology that is protected by 12 of Huawei’s US patents.
“Verizon’s products and services have benefited from patented technology that Huawei developed over many years of research and development,” said Dr. Song Liuping, Huawei’s Chief Legal Officer.
In 2019, Huawei held talks with Verizon that it should pay licensing fees for more than 230 of Huawei’s patents. The telecom giant Verizon to pay over $1billion USD for these patents of which, Verizon failed to reach an agreement on license terms.
(Source – Reuters)