South Korea's Samsung Electronics and Sweden's Ericsson on Monday announced they have agreed to withdraw their wireless technology-related lawsuits and reached a cross-license patent agreement covering second-generation and third-generation wireless technology.
Back in 2006, after the two companies failed to agree on terms for a renewal of patent licenses, telecommunications equipment maker Ericsson sued Samsung, the world's third-biggest maker of mobile phones behind Finland's Nokia and U.S. firm Motorola, for alleged patent infringement related to its GSM, GPRS and EDGE technologies.
Under the new agreement, both companies could use each other's patents covering second-generation and third-generation wireless technology to develop, manufacture and sell equipment. The two companies have decided not to publicly disclose certain information in the agreement.