According to a statement released by Huawei Technologies, a worldwide patent cross-licensing contract was signed between Huawei Technologies of China and Xiaomi Inc (1810. HK) on Wednesday.
According to the statement, the agreement includes many communication technologies, including 5G, and represents the conclusion of a dispute between the two companies about the licensing of patents.
In March, local Chinese media claimed that Huawei had filed a lawsuit against Xiaomi for the alleged violation of four registered patents. These patents were mostly linked to technologies involved in wireless communication, smartphone photography, and screen lock technology.
Additionally, Huawei has patent licensing agreements with other technology companies, including Oppo and Samsung (005930. KS) in South Korea. Only last month, they decided to continue their partnership with Ericsson (ERICb.ST).
In July, Huawei said it had received royalty earnings of $560 million in 2022 and earned more in royalties over the last two years than it had paid. This was because the decrease in sales of handsets meant that Huawei needed to pay less to other intellectual property holders.
