Microsoft is demanding Samsung to pay $6.9 million in unpaid interest from last year. This is the interest of the $1 billion annual payment Samsung has delayed to pay last year.
The suit was initially filed in August by Microsoft on the grounds that Samsung has stopped making royalty payments on time and is refusing to pay interest for the delay. However, the amount that is being claimed in damages was not mentioned at that time. The company claimed that Samsung is using Microsoft’s April acquisition of Nokia’s phone business as an excuse to not pay the royalties along with the interest on late payment outstanding since September 2013.
“Samsung has suggested that Microsoft has breached the business collaboration agreement. We disagree, and that’s why we asked the court to rule that Microsoft is not in breach. Second, Microsoft has asked for $6.9 million in damages due to unpaid interest from last year.”
wrote David Howard, Microsoft Corporate Vice President and Deputy General Counsel in a company blog post.
A Korean Times report had previously claimed that Samsung and Microsoft had agreed to discuss a settlement over the issue.
via:Re/Code