Qualcomm rejects Nokia’s $20 million payment offer

Qualcomm rejects Nokia’s $20 million payment offer

US based tech giant Qualcomm has revealed that they have rejected the offer made by the mobile phone maker Nokia.

Nokia had offered them a $20 million payment. Qualcomm added that they have also rejected the terms offered by the world’s largest mobile phone maker.

The licensing agreement between the two companies has expired already and the two companies are now likely to file more lawsuits against each other.

Qualcomm spoke about their decision to reject the Nokia’s offer: “Nokia’s attempted payment is a fraction of the royalty to which Nokia agreed in the arm’s length negotiations leading to the parties’ existing contract and for which Nokia bargained in obtaining the extension option.”