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Ericsson (NASDAQ:ERIC) inked a multi-year global patent cross-license agreement with OPPO.
This agreement involves a cross-license for essential patents in cellular technologies, including 5G standards, and OPPO will pay royalties to Ericsson. The financial terms were not disclosed.
OPPO and Ericsson will collaborate on various 5G-related initiatives, including device testing, customer engagements, and marketing, in addition to their cross-licensing agreement.
This agreement follows global standards where companies using 3GPP cellular technologies like 5G must license patents to avoid infringement and compensate patent holders for their R&D investments.
Christina Petersson, Chief Intellectual Property Officer at Ericsson, said, “This important royalty bearing license agreement with OPPO allows Ericsson to further invest in fundamental communications technologies. The license confirms that the patent licensing industry works and is proof that a vast majority of license agreements are based on business negotiations.”
“It also reflects the mutual respect for each other’s patent portfolio. We now look forward to growing Ericsson’s IPR revenues with additional 5G agreements and expansion into additional licensing areas, such as IoT and consumer electronics.”
The financial impact of this agreement was already accounted for in the second-quarter 2024 financial results.
Last week, Ericsson reported a sales decline of 7% Y/Y to 59.8 billion Swedish Krona. In USD, sales of $5.597 billion beat the analyst consensus estimate of $5.363 billion.
Read: Ericsson’s Vonage Bet Backfires: Impairment Charge Hits Q2 Due to Lower Market Growth
Price Action: ERIC shares are down 2.10% at $6.54 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Mats Wiklund via Shutterstock
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