Ericsson to pay $97 million to Nokia for after settling damages claim


FILE PHOTO: Ericsson logo is seen at its headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg

STOCKHOLM (Reuters) -Telecoms gear maker Ericsson has reached an agreement with Finland's Nokia to pay a damages claim of 80 million euros ($97 million), it said on Wednesday.

Ericsson said the settlement followed investigations by the U.S. Department of Justice (DoJ) into corruption, including the bribing of government officials. It settled with the DoJ in 2019 and agreed to pay over $1 billion in penalties.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

This AI-focused chip is powered by light
Study warns users about health information on TikTok
Apple renews talks with OpenAI for iPhone generative AI features, Bloomberg News reports
Google plans $3 billion data center investment in Indiana, Virginia
X tells Brazil court 'operational faults' allowed blocked users to remain active
TikTok general counsel to step down, will focus on fighting US law
Google asks court to throw out US advertising case
Apollo, KKR and Stonepeak to invest in JV to fund Intel's Ireland facility, Bloomberg reports
Televisa to merge its satellite TV, cable units 'as soon as possible'
EU's Vestager meets French tech firm Mistral AI amid competition concerns

Others Also Read