ParkerVision Secures Patent License Agreement with Hisense

Rhea-AI Summary

ParkerVision, a developer of radio frequency technologies, has resolved its patent infringement litigation with Hisense on confidential terms, including a licensing agreement for specific patents. This settlement allows ParkerVision to dismiss its case against Hisense in the Western District of Texas, while Hisense will withdraw from ongoing proceedings. ParkerVision initiated litigation against Hisense in September 2020, focusing on WiFi chip use. The company is also preparing for a trial against Intel scheduled in the coming months, emphasizing its commitment to defend its patent rights.

Positive

• Successfully resolved patent infringement litigation with Hisense.
• Obtained a licensing agreement that could generate revenue.
• Reduced legal expenses by settling instead of continuing litigation.

Negative

• Ongoing litigation against Intel could pose financial risks.
• Further legal disputes may distract from business operations.

JACKSONVILLE, FL / ACCESSWIRE / November 3, 2022 / ParkerVision, Inc. (OTCQB:PRKR), a leading developer of radio frequency technologies used in advanced wireless solutions, announced today that it has successfully resolved its patent infringement litigation against Chinese Hisense International Co., Ltd. ("Hisense") on mutually-agreeable and confidential terms including a license covering certain patents.

In conjunction with this agreement, ParkerVision will file a motion to dismiss its patent infringement proceedings against Hisense in the Western District of Texas and Hisense will withdraw from the pending IPR proceedings against ParkerVision.

ParkerVision initiated a patent infringement action against Hisense in the Western District of Texas in September 2020, with a second action filed in June 2021. The infringement action related to Hisense's use of WiFi chips in certain of its products. ParkerVision has additional patent infringement actions currently ongoing in the Western District of Texas including cases against Intel, TCL and LG.

"We are pleased to execute our third patent license and settlement agreement stemming from our Texas actions and believe this demonstrates our willingness to come to the table on reasonable business terms in lieu of time-consuming and costly litigation. Nevertheless, we are prepared to defend our patent rights in court if needed and, accordingly, we are busy preparing for our upcoming trial against Intel that is scheduled to commence in approximately three months," said Jeffrey Parker, ParkerVision's Chairman and CEO.

About ParkerVision

ParkerVision, Inc. has designed, developed, and patented proprietary radio-frequency (RF) technologies which enable advanced wireless solutions for current and next generation wireless communication products. ParkerVision is engaged in a number of patent enforcement actions to protect patented rights that it believes are broadly infringed by others. For more information, please visit www.parkervision.com

Safe Harbor Statement

This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2021, and the Forms 10-Q for the quarters ended March 31 and June 30, 2022. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.

Contact:

Cindy French	Tony Vignieri
Chief Financial Officer	Communications Director
cfrench@parkervision.com	tvignieri@parkervision.com

SOURCE: ParkerVision, Inc.

View source version on accesswire.com:
https://www.accesswire.com/723691/ParkerVision-Secures-Patent-License-Agreement-with-Hisense

FAQ

What recent legal development has ParkerVision announced?

ParkerVision has resolved its patent infringement litigation against Hisense, including a license agreement for certain patents.

How will the settlement with Hisense affect ParkerVision's litigation status?

ParkerVision will dismiss its patent infringement proceedings against Hisense, and Hisense will withdraw from the pending IPR proceedings.

What are the ongoing legal challenges ParkerVision faces?

ParkerVision is currently preparing for a trial against Intel, expected to start in approximately three months.

When did ParkerVision initiate the litigation against Hisense?

ParkerVision filed its first patent infringement action against Hisense in September 2020.

What does the patent agreement with Hisense signify for ParkerVision?

The agreement represents ParkerVision's third patent license and settlement, demonstrating its willingness to resolve disputes amicably.