Blackberry is a name that we don’t hear much nowadays. Back in its heyday the company was known as a pioneer of the smartphone itself.
Stocks for Blackberry reached their highest point ever since last year. The company recently received $814.9 million in royalty overpayments made to Qualcomm. This resulted in the company’s shares jumping more than 18 percent after the news came out. Qualcomm’s shares on the other hand went down by 2%.
This is just the first award with a second one, including attorney fees and interest, to be issued after a hearing on May 30th.
Start of The Case
This started back in April last year when Qualcomm and Blackberry sat down for discussions to settle their dispute and to analyze an existing:
…agreement to cap certain royalties applied to payments made by BlackBerry under a license agreement between the two parties.
After the case ended in BlackBerry’s favor, company CEO John Chen said that the two companies will continue to be “valued technology partners”.
Last time BlackBerry saw this kind of increase in stock value was back when the company’s first Android powered smartphone Priv sold out at several big name stores.
Since then the company has shifted to licensing agreements with brands like TCL. KeyOne was primarily manufactured by TCL.
Bad Fortune for Qualcomm
Qualcomm has been having a bad time and has suffered losses at the hands of Apple and the Korea Fair Trade Commission.
Apple had filed a $1 billion lawsuit against them saying that Qualcomm was “charging royalties for technologies they have nothing to do with.” Korea Fair Trade Commission charged the chip maker 1.03 trillion won ($854 million) for violating competition laws.
The Cupertino based tech giant argued that Qualcomm was also withholding an additional $1 billion in payments from Apple for “retaliation for responding truthfully to law enforcement agencies investigating them.”