InterDigital, Inc.: InterDigital and Lenovo Agree to Enter into New License Agreement – Final Terms to be Determined in Binding Arbitration
WILMINGTON, Del., Oct. 09, 2024 — InterDigital, Inc. (Nasdaq: IDCC), a leader in mobile, video, and AI technology research and development, has announced the establishment of a new patent licensing agreement with Lenovo. The specifics of this agreement will be resolved through binding arbitration.
As part of the arbitration agreement, both InterDigital and Lenovo have committed to resolving all existing litigation between the two companies. This move is expected to foster a smoother relationship as they work together in the technology space.
Eeva Hakoranta, the Chief Licensing Officer at InterDigital, expressed optimism about the arbitration process, stating, “When disputes do arise in licensing negotiations, binding arbitration provides for a sophisticated global dispute resolution mechanism. I look forward to the conclusion of the arbitration and settling the terms of our new license agreement for Lenovo’s use of our foundational wireless, video, and AI innovation in Lenovo’s products, such as smartphones and PCs.”
InterDigital is renowned for its innovation in technology and has positioned itself as a key player in the development of foundational technologies that support interoperability and immersive experiences across a variety of communications and entertainment mediums.
Founded in 1972, InterDigital remains at the forefront of wireless technology, developing solutions that range from early digital cellular systems to contemporary 5G networks and cutting-edge Wi-Fi technologies. The company also leads in video processing along with encoding and decoding technology and operates a substantial AI research initiative that overlaps with both wireless and video domains.
The partnership with Lenovo signifies a continued pathway toward advancing the integration of InterDigital’s patented technologies into Lenovo’s offerings. This includes essential devices like smartphones and personal computers, further solidifying the importance of innovative technology in everyday consumer products.
As both companies move forward, there is a mutual expectation that the finalized agreement will enhance Lenovo’s product capabilities and enable greater technological advancements. This agreement highlights the importance of collaboration in achieving innovative solutions that leverage InterDigital’s extensive research and development in the field.
In conclusion, the pending arbitration will pave the way for a productive collaboration between InterDigital and Lenovo, resulting in benefits for both organizations and their respective customers.
