Qualcomm, Nokia deal ends long legal battle

By Sinead Carew NEW YORK (Reuters) - Qualcomm Inc settled a three-year, three-continent legal battle on Wednesday when Nokia agreed to make an upfront payment and ongoing royalties to the U.S. technology company. Investors, relieved that the fight was finally over, drove Qualcomm's shares 15 percent higher to $51.75 in after-hours trade after it unveiled a 15-year pact with Nokia, the No. 1 cell phone maker. The deal covers the world's most widely used mobile-phone technologies and some key emerging ones. The companies did not reveal specific financial details but some analysts saw Nokia as the winner. "The positive financial impact of this agreement is within Nokia's original expectations," Nokia Chief Executive Olli-Pekka Kallasvuo said in a statement. Nokia spokeswoman Laurie Armstrong said that the royalty rates under the... [read full story]