Wednesday, April 11, 2007

QUALCOMM Rejects Nokia's $20 Million Payment

QUALCOMM has rejected Nokia's $20 million payment made last week, which was intended to be an advance payment of royalties to QUALCOMM for the quarter ending June 30. QUALCOMM said both the amount of the payment and the terms that Nokia sought to unilaterally impose in connection with it are at odds with the parties' 2001 license agreement.