InterDigital Awarded $46.2 Mln Interest By UK Court In Case Against Lenovo

(RTTNews) - Mobile and video technology company InterDigital, Inc. (IDCC) on Tuesday said that it has been awarded an interest of $46.2 million by the UK High Court in its against Lenovo Group Limited (LNVGY). This brings the total obligation to be paid to InterDigital to $184.9 million.

The case relates to a licensing dispute between Lenovo and InterDigital's portfolio of patents which have been declared essential to the European Telecommunications Standard Institute or ETSI Standards.

Previously, the court had agreed with the company that Lenovo should pay interest on the original sum of $138.7 million for a license to InterDigital's portfolio of 3G, 4G and 5G patents.

Additionally, the UK High Court has permitted both the companies to appeal certain aspects of the judgement.

On Monday, the shares of InterDigital closed at $90.63 down 0.48% or $0.44 on the Nasdaq. Shares of Lenovo closed at $20.92 up 2.31% or $0.47.