Saturday, 16 Nov, 2024

Tech

Samsung owes $8.8 million in unpaid interest

ICT Desk |
Update: 2014-10-04 08:22:00
Samsung owes $8.8 million in unpaid interest Photo Courtesy: industryleadersmagazine.com

DHAKA: Microsoft is demanding US$6.9 million interest from Samsung Electronics in a dispute over smartphone patent royalties.

A lawsuit unsealed by a New York federal court said on Friday, The Straits Times publishes this report on Saturday.

Microsoft is asking the court to rule that it did not breach a business collaboration agreement with Samsung, and that Samsung must pay interest on more than US$1 billion in royalty payments which it delayed in protest at Microsoft's planned purchase of rival Nokia's handset business.

A redacted version of the lawsuit was filed by Microsoft in August.

Samsung made royalty payments on time to Microsoft during the first fiscal year after they signed their 2011 agreement, the lawsuit said.

BDST: 1823 HRS, OCT 04, 2014

All rights reserved. Sale, redistribution or reproduction of information/photos/illustrations/video/audio contents on this website in any form without prior permission from banglanews24.com are strictly prohibited and liable to legal action.