Ericsson, a leading provider of network infrastructure and consumer devices, has announced the renewal of its multiyear global patent cross-licensing agreement with Huawei. Under this agreement, both companies will have access to each other's patented and standardized technologies, specifically in the areas of network infrastructure and consumer devices, including 3G, 4G, and 5G cellular technologies.

"Both companies are recognized as major contributors to mobile communication standards and highly value each other's intellectual property," stated Christina Petersson, Chief Intellectual Property Officer at Ericsson. She further emphasized that a balanced approach to licensing ensures fair representation of the interests of both patent holders and implementers, which is crucial for driving healthy and sustainable industry development.

While the financial terms of the agreement were not disclosed, Ericsson expects that its portfolio of intellectual property licensing contracts will contribute to a licensing revenue of approximately 11 billion Swedish kronor ($1 billion) by the end of 2023.

With over 60,000 granted patents and an annual investment of more than $4 billion in research and development, Ericsson remains confident in expanding its intellectual property revenues through future agreements and venturing into additional licensing areas in the long term.

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