Published: Sat, June 15, 2019
Finance | By Loren Pratt

Huawei wants Verizon to pay $1 billion for its patents

Huawei wants Verizon to pay $1 billion for its patents

As per sources close to the matter, Huawei and Verizon representatives met in NY, last week, to discuss whether the gear could infringe Huawei's patents.

Reportedly, the USA president Donald Trump's dispute with China has been extended to Verizon, which relies on other companies, that use technology owned by Huawei.

Verizon's not a Huawei customer, but a Huawei executive sent a letter to the USA carrier in February saying "We trust that you will see the benefit of taking a license to our patent portfolio".

Verizon spokesman Rich Young declined to comment "regarding this specific issue because it's a potential legal matter". "Given the broader geopolitical context, any issue involving Huawei has implications for our entire industry and also raise national and worldwide concerns", Reuters quoted a Verizon spokesman as saying.

The licensing fee demand may be more about the geopolitical battle between China and the United States rather than a demand for patent fees.

For the record, Huawei is known for its networking equipment and supplies smartphones to over 170 nations. According to sources that The New York Times talked to, on the condition of anonymity, the patent claims made by Huawei would amount to over $1 billion in total.

The CNBC recently released a news report stating the Chinese giant Huawei's another attempt to question its ban in the USA over national security grounds during early Thursday.

In the light of the current events, the line between the U.S.

The US Government placed Huawei and 68 of its affiliates on its Entity List on 16 May, meaning that the company would have to seek permission to purchase any American components it needed to manufacture its products.

The United States last month put Huawei on a blacklist that barred it from doing business with US companies on security grounds without government approval, prompting some global tech firms to cut ties with the world's largest telecoms equipment maker.

Contacted for comment, a Huawei spokesperson said the company had nothing further to say.

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