InterDigital signs licensing agreement with Xiaomi

Rhea-AI Summary

InterDigital (NASDAQ:IDCC) has announced a multi-year, worldwide, non-exclusive licensing agreement with Xiaomi. This agreement includes a royalty bearing license covering Xiaomi's cellular-enabled devices related to InterDigital's essential patents for cellular wireless technologies (3G, 4G, 5G), WiFi, and HEVC video technology. As part of the settlement, both companies agreed to dismiss all pending patent litigation. This partnership will expand InterDigital's reach to millions of consumers globally, adding Xiaomi to their roster of about 80 licensed companies.

Positive

• Secured a multi-year, worldwide license agreement with Xiaomi, increasing market presence.
• Dismissed all pending patent litigation with Xiaomi, enhancing partnership dynamics.
• Xiaomi adds significant market reach, allowing InterDigital to tap into a broader consumer base.

Negative

• None.

WILMINGTON, Del., Aug. 03, 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 Xiaomi.

The license covers Xiaomi’s cellular-enabled mobile devices under InterDigital’s standard essential patents related to cellular wireless (including 3G, 4G and 5G), WiFi and HEVC video technology.

As part of the agreement InterDigital and Xiaomi have agreed to dismiss all pending patent litigation and other proceedings between the companies.

“We are very pleased to conclude this agreement with Xiaomi which recognizes our long-term investment in research and innovation in standards-based technologies and the strength and breadth of our patent portfolio across several key technologies,” said Eeva Hakoranta, Chief Licensing Officer, InterDigital. “This deal adds one of the world’s leading smartphone manufacturers to the approximately 80 companies, including Apple, Huawei, and Samsung, which have taken licenses to InterDigital’s extensive portfolio. Adding Xiaomi now allows us to offer our patented technology to millions more consumers around the world while working constructively with an industry leader.”

“Now a leading smartphone company in the world, Xiaomi has continuously invested in core standards research to emerge as a top contributor to standard essential technologies in the world,” commented Paul Lin, Vice President of Global Business Development and IP Strategy, Xiaomi Corp. “In the past year, the Xiaomi and InterDigital teams worked hard to understand each other’s needs and diligently seek to narrow the gaps. I’m glad, now that all disputes are resolved between the two parties, Xiaomi can remain laser-focused on bringing innovative products to market.”

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.

About Xiaomi

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.

Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is one of the world's leading smartphone companies. The company’s market share in terms of smartphone shipments ranked no. 2 globally in the second quarter of 2021. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, with 351.1 million smart devices connected to its platform (excluding smartphones and laptops) as of 31 March 31, 2021, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2020, the company made the Fortune Global 500 list for the second time, ranking 422nd, up 46 places compared to 2019.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

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

Xiaomi Contact
Qingyuan Guo
guoqingyuan@xiaomi.com

FAQ

What is the recent licensing agreement between InterDigital and Xiaomi?

InterDigital has signed a multi-year, worldwide, non-exclusive licensing agreement with Xiaomi regarding its cellular-enabled mobile devices under essential patents for wireless technologies.

How does the InterDigital and Xiaomi agreement affect patent litigation?

As part of the agreement, both InterDigital and Xiaomi have agreed to dismiss all pending patent litigation and other proceedings.

What technologies are covered under the InterDigital and Xiaomi agreement?

The license covers essential patents related to cellular wireless technologies (3G, 4G, 5G), WiFi, and HEVC video technology.

How does this agreement impact InterDigital's market position?

The collaboration with Xiaomi enhances InterDigital's market presence, adding a leading smartphone manufacturer to its portfolio and expanding its reach to millions of consumers.