BlackBerry wins US$815 million Qualcomm royalty refund

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BlackBerry wins US$815 million Qualcomm royalty refund

Chipmaker Qualcomm said it was asked to refund Canada's BlackBerry a sum of US$814.9 million in an arbitration settlement over royalties for certain past sales.

US-listed shares of BlackBerry were up about 16 percent at US$8.94 in heavy premarket trading. Qualcomm was down about one percent at US$54.81.

The companies in 2016 decided to arbitrate a dispute over Qualcomm's agreement to cap certain royalties applied to payments made by BlackBerry under a licensing deal.

Qualcomm said on Wednesday it did not agree with the decision of an arbitration panel, but the payment is binding and not appealable.

Qualcomm is also fighting a lawsuit filed by Apple, accusing the company of overcharging for chips and refusing to pay some US$1 billion in promised rebates.

The US government has accused Qualcomm of resorting to anticompetitive tactics to maintain a monopoly over key semiconductors in mobile phones.

BlackBerry said a final award including interest and reasonable attorneys' fees will be issued after a hearing on May 30.

Reporting by Ahmed Farhatha in Bengaluru. Editing by Sriraj Kalluvila and Maju Samuel

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