BlackBerry to Pay Nokia $137 Million

BlackBerry (NYSE: BB) owes Nokia $137 million by an international court in a payment dispute while the company aims to continue to pursue a separate claim over patent infringement. BlackBerry is said to have failed to make certain payments to Nokia under a patent license contract but didn’t directly involve intellectual property (IP) infringement.

In February, BlackBerry filed a complaint claiming that several of the base stations and related software infringed on 11 of their patents with Nokia selling these products to telecom operators. Nokia on the other hand believes that BlackBerry’s unrelated claims of this infringement are without authentication.

BlackBerry’s revenue has declined for 6 consecutive years as sales of their smartphones have dropped. Shares of the company were down 2.1% while Nokia’s decreased 1.4%. Recently, Nokia has been sticking to their network equipment business by signing smartphone patent deals with Samsung, Apple, LG, and Xiaomi.

“Patent issues are going to come up from time to time and as one-offs,” said Todd Coupland, an analyst at CIBC World Markets. “Getting in front of them, unless there is some detail, is going to be tough.”

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