InterDigital signs licensing agreement with Seiko Solutions Inc.

Rhea-AI Summary

InterDigital (NASDAQ:IDCC) has signed a multi-year, worldwide, non-exclusive, royalty-bearing license with Seiko Solutions Inc. covering 3G, 4G, and 5G cellular wireless technology. This agreement was reached through constructive negotiations and underscores the strong partnership between the two companies. InterDigital's portfolio has attracted approximately 80 licensees over the years, resulting in the sale of over 800 million licensed devices in the current year and more than six billion in the last decade, showcasing the company's significant impact in mobile and video technologies.

Positive

• Secured a multi-year license with Seiko Solutions, enhancing revenue stability.
• The license covers essential patents for 3G, 4G, and 5G technologies.
• Demonstrates strong market demand with over 800 million devices licensed this year.

Negative

• None.

WILMINGTON, Del., Sept. 08, 2021 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced it has entered into a multi-year, worldwide, non-exclusive, royalty bearing license with Seiko Solutions Inc..

The license covers Seiko Solutions Inc.’s range of phones under InterDigital’s standard essential patents related to 3G, 4G and 5G cellular wireless technology.

“The renewal of our license agreement with Seiko Solutions Inc. is the result of constructive bilateral negotiation and we very much appreciate the long-term relationship built on professionalism, trust and respect between our companies,” commented Eeva Hakoranta, Chief Licensing Officer, InterDigital. “This agreement serves to yet again validate the strength of our portfolio and highlights the vital contributions our engineers continue to make to key wireless technologies.”

Over the years, approximately 80 companies including Apple, Huawei, Samsung, Sony and Xiaomi have taken licenses to InterDigital’s extensive portfolio of patented innovations in wireless and video technologies, which have resulted in more than 800 million licensed devices sold this year and over six billion devices sold within the past decade.

About InterDigital^®

InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.

InterDigital is a registered trademark of InterDigital, Inc.

For more information, visit: www.interdigital.com.

InterDigital Contact:
Richard Lloyd
Email: richard.lloyd@interdigital.com
+1 (202) 349-1716

FAQ

What does the new license agreement with Seiko Solutions entail for IDCC?

The agreement provides Seiko Solutions with access to InterDigital's standard essential patents for 3G, 4G, and 5G technologies.

How many devices have utilized InterDigital's technology this year?

Over 800 million devices have been sold this year that utilize InterDigital's licensed technology.

What trends are impacting InterDigital's business model?

InterDigital's business model is positively impacted by the increasing adoption of mobile and video technologies globally.

Who are some notable companies that have licensed InterDigital's technology?

Notable licensees include Apple, Huawei, Samsung, Sony, and Xiaomi.

How does the license agreement affect InterDigital's financial outlook?

The multi-year license agreement is expected to provide stable revenue and validate the strength of InterDigital's patent portfolio.