Huawei and Verizon (parent company of Engadget) have resolved their long-standing patent dispute. The disagreement dates back to 2019 when Huawei said it was approaching Verizon to license some of its technologies. After nearly a year of negotiations, discussions between the two companies broke down on January 21, 2020, and Huawei continued File several lawsuits against telecoms courts in Texas. At the center of the feud were 12 patents relevant to the standards Huawei said Verizon used in its infrastructure. At the time, Verizon denied the lawsuits, claiming they were “nothing more than a PR stunt.”
Then he changed his melody. “Verizon is pleased with the settlement concluded with Huawei involving patent litigation. While the terms of the settlement are not disclosed, our team has done an exceptional job leading up to this protracted matter,” said Verizon spokesman Rich Young .
For Huawei, this is precisely the kind of result the company had hoped for when it announced in early 2021 that it had planned to monetize their patent portfolio more aggressively. While the United States and other parts of the world have excluded it from their national 5G networks, Chinese society is ideally placed to make money with licensing rights. It has among the most relevant patents to the relevant 5G standards of all companies in the world. To that end, he estimated that the licensing strategy could help generate up to $ 1.3 billion in additional revenue between 2019 and the end of 2021.
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