The International Court of Arbitration has ordered smartphone manufacturer BlackBerry to pay $137 million (approximately Rs 881.52 crore) to Nokia in a payment dispute case that began in 2016, Reuters reported on Friday.
However, the ruling did not have a negative impact on Blackberry’s share prices on Monday. At 2.54 pm, its stocks were trading at $10.79, two cents up from Friday’s close.
The court ruled in favour of the Finnish mobile phone manufacturer last week, saying that BlackBerry had failed to make certain payments to Nokia under a patent licence contract.
However, the two companies are not done with legal battles over intellectual property rights. In a statement, the Canadian company said: “This ruling does not change BlackBerry’s assertion that Nokia is infringing on our intellectual property and we are continuing to vigorously pursue legal remedies in both the US and Germany.”
The company is suing Nokia for allegedly infringing on 11 patents used in mobile networking products, TechCrunch reported. The case was filed in February. The company’s business model is dependent on the intellectual property rights it holds on such products. It is crucial for the company’s future as it has now shifted away from manufacturing its own hardware.