Qualcomm Rejects Nokia’s Payment for UMTS Licensing

In the continuing litigation saga between Nokia and Qualcomm, one more
shot has been fired across Nokia’s bow.

In a press release submitted today, Qualcomm has stated that they have
rejected Nokia’s $20 million dollar payment for UMTS patents on the basis that Nokia is
attempting to tender a payment by applying terms and conditions at odds
with the current agreement.

The company also claims Nokia is attempting to subvert and mislead
investors by understating royalty percentages and underpaying royalty
rates, while restating its request for arbitration and agreement to an
extension of the current agreement due to Nokia’s attempt at a payment
for royalties. Qualcomm has stated its concern with Nokia’s behavior in
regards to a potential breach of contract by the aforementioned actions
and is pursuing both legal and contractual avenues for a resolution.

Release (Qualcomm)