Ericsson (ERIC) said Thursday it has reached a settlement with Lenovo to partially resolve a dispute over a global patent cross-license agreement.
The company said the financial impact of this agreement is expected to be recognized starting from Q2.
As part of the settlement, the companies agreed to withdraw all lawsuits and administrative proceedings in various countries, including those pending at the US International Trade Commission, Ericsson said.
The remaining dispute will be settled through arbitration, the company added.
Shares of Ericsson were down about 3.2% in recent trading.
Price: 7.55, Change: -0.25, Percent Change: -3.15
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