After renewing the patent cross-license agreement with Huawei, Ericsson expects intellectual property license revenue to reach 11 billion Swedish kronor this year.

Thanks to CTOnews.com netizens Yuxue Zhaitu, South China Daniel Wu, Brother Black fly's left-hand clue delivery! CTOnews.com, Aug. 25 (Reuters)-after renewing the patent cross-license agreement with Huawei, Ericsson expects intellectual property (IPR) licensing revenue to reach 11 billion Swedish kronor (CTOnews.com Note: about 7.27 billion yuan) this year.

CTOnews.com learned from foreign media that the renewed agreement between Huawei and Ericsson covers patents necessary for 3G, 4G and 5G, including network infrastructure and consumer equipment sold by both sides.

Fan Zhiyong, head of Huawei's intellectual property rights department, said: "We are committed to sharing leading technological innovation, which will promote the healthy and sustainable development of the industry and provide consumers with more powerful products and services."

Christina Peterson, chief intellectual property officer of Ericsson, said: "both companies are major contributors to mobile standards and recognize the value of each other's intellectual property rights."

Ericsson has more than 60, 000 licensed patents and invests more than $4 billion a year in research and development. The company says it is confident of increasing its intellectual property revenue through further agreements and long-term expansion into other licensing areas.