Samsung Electronics Co. Ltd. and Qualcomm Inc. expanded their global patent cross-license agreement, which will see the Samsung Group unit "withdrawing its interventions" in Qualcomm's appeal against the Korea Fair Trade Commission decision in the Seoul High Court.
The agreement covers mobile devices and infrastructure equipment, and could reportedly help Qualcomm resolve its antitrust case in South Korea, as well as block a takeover attempt from Broadcom Corp., the Financial Times (U.K.) reported.
Additionally, Samsung Electronics and Qualcomm subsidiary Qualcomm Technologies Inc. entered into a multiyear agreement to partner in various technologies and across a range of mobile devices.
South Korea's Fair Trade Commission imposed a fine of 1.03 trillion won on Qualcomm and its two affiliate units for abusing its dominant position in December 2016. The U.S. chipmaker then failed to get a suspension on the regulator's corrective order in September 2017.
As of Jan. 31, US$1 was equivalent to 1,068.64 South Korean won.
