By Anna Ringstrom
STOCKHOLM (Reuters) – Sweden’s Ericsson 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 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)