Benzinga | Aug 3, 2021 08:45AM EDT

InterDigital Earlier Announced Co. Signed A Licensing Agreement With Xiaomi

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."