Biz People: Jacobs confident on Nokia deal
Qualcomm Inc Chief Executive Officer Paul Jacobs believes his company can reach agreement with Nokia Oyj over cross-licensing arrangements that are due to expire on April 9, the Financial Times said, citing an interview.
Jacobs said he is confident the companies can avoid an "Armageddon" situation in which no agreement is reached and "a massive escalation" of the dispute takes place, the FT reported.
The two companies are suing each other in US and European courts. San Diego-based Qualcomm says Nokia wants to avoid paying royalties. Espoo, Finland-based Nokia says Qualcomm's royalty rates are too high.
Nokia Chief Financial Officer Rick Simonson has said Qualcomm's patents play less of a role and therefore its royalties should be lower, the FT said.
(China Daily 04/03/2007 page16)
