BlackBerry says US$940 million coming its way

WATERLOO, Ont. — BlackBerry Ltd. (TSX:BB) says it will receive US$940 million from Qualcomm by May 31 to settle a dispute over royalty payments.

An arbitrator sided with BlackBerry in April, and announced an interim award of US$814.9 million plus additional amounts for interest and legal fees.

It was previously expected that a final award would be decided after a hearing on May 30.

San Diego-based Qualcomm receives royalty payments for the use of specialized chips used in smartphones, including BlackBerry products.

The dispute centred on a rebate that BlackBerry sought under the terms of a 2016 agreement with Qualcomm.

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