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© Reuters. FILE PHOTO: A logo of Ericsson is seen outside the company’s office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo
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© Reuters. FILE PHOTO: A logo of Ericsson is seen outside the company’s office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo
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STOCKHOLM (Reuters) -Sweden’s Ericsson (ST:) predicted on Friday intellectual property rights (IPR) licensing income of 11 billion Swedish crowns ($1 billion) this year after it renewed a patent cross-licensing agreement with China’s Huawei.
The telecom gear maker’s renewed multi-year deal with its Chinese rival grants both companies global access to each other’s patented, standardized technologies, it said.
“With the current portfolio of IPR licensing contracts, Ericsson (BS:) estimates the full-year 2023 IPR licensing revenues to be approximately 11 billion crowns,” the company said in a statement.
($1 = 11.0158 Swedish crowns)
