A New York federal court has made public a lawsuit brought by Microsoft, which is suing Samsung for £4.33m in unpaid interest on Android patent royalties.
The South Korean technology company, which uses Microsoft technology in its Android operating system, has paid $1 billion in royalties to date.
Samsung says that it temporarily withheld payment September 2013 as a protest following Microsoft’s acquisition of Nokia’s Devices and Services business, later relenting on the core cost but refusing to pay the interest that had accrued.
“In September 2013, after Microsoft announced it was acquiring the Nokia Devices and Services business, Samsung began using the acquisition as an excuse to breach its contract,” said Microsoft’s Deputy General Counsel David Howard, who filed legal action in August.
“Microsoft and Samsung have a long history of collaboration. Microsoft values and respects our partnership with Samsung and expects it to continue.”
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
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