Huawei wants Verizon to pay $1 billion for compensation

June 13th, 2019   Penny Snow   news Tags:

Huawei slapped a $1 billion compensation claim on US operator Verizon covering licensing fees for a lot more than 230 of its patents. The Chinese vendor issued its claim in February, asking Verizon to cough up to “solve the patent licensing issue” what relates to core and wireless network gear, together with IoT equipment according to a report from the Wall Street Journal.

Huawei wants Verizon to pay $1 billion for compensation

Verizon does not directly use Huawei equipment, but reportedly depends on 20 vendors that use Huawei technologies, and the Chinese company’s patent claim in this regard covers properties like network gadgets and wireless tech. As stated by to sources that The New York Times talked to, on the condition of anonymity, the patent claims made by Huawei would volume to over $1 billion in total.
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Representatives for Huawei and Verizon met last week in Fresh York to discuss some of the patents at issue. A Verizon spokesperson told the New York Times that the company had no comment on the matter, but added that “these issues are greater than just Verizon.” He Furthermore added, “Given the broader geopolitical context, any issue involving Huawei has implications for our entire industry and also raise national and international concerns.”

The United States last month put Huawei on a blacklist that barred it from doing business with U.S. companies on security grounds without having government approval, prompting few global technology firms to cut ties with the world’s biggest telecoms equipment maker. This has put a big strain on the company, though they’ve been slowly recovering ground as of late.

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