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Huawei and Verizon settle patent lawsuits mid-trial without disclosing terms
- A week after the a jury trial started in Texas, the telecoms giants announced they had settled disagreements over licensing terms for network technology
- The companies did not disclose the terms of the agreement, making it difficult to gauge who is coming out ahead
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Huawei Technologies Co and Verizon Communications Inc agreed in the midst of a federal jury trial in Texas to end two patent-infringement lawsuits over royalties on telecommunications technology.
Representatives of both companies said they were pleased with the settlement, the details of which they said were confidential.
US District Judge Rodney Gilstrap on Monday approved the joint motion to dismiss the cases, filed Sunday by the companies.
Verizon shares rose 19 cents to US$56.26 at 12:11pm New York time.
A trial began last week in Marshall, Texas, in Huawei’s case against Verizon over claims it is using Huawei’s patented networking technology without a license. It was the first of two trials scheduled this year over lawsuits Huawei filed last year against Verizon, the biggest US mobile carrier.
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