- Qualcomm to Refund BlackBerry $815m in Royalties
US mobile chip giant Qualcomm is to refund BlackBerry $814.9m in royalties overpaid by the Canadian company, according to a tentative arbitration award announced on Wednesday.
A final award expected to include interest and legal fees will be determined in late May at a hearing in Southern California where the arbitration took place.
“BlackBerry and Qualcomm have a longstanding relationship and continue to be valued technology partners,” BlackBerry chief executive John Chen said in a release.
“We are pleased the arbitration panel ruled in our favour and look forward to collaborating with Qualcomm.”
Shares in BlackBerry, which has largely exited the mobile handset business in favour of software and services, jumped 16.9 percent to nine dollars in trading on the Nasdaq exchange after the arbitration award was announced.
Qualcomm said in a separate release that it does not agree with the decision, but that it is binding and can not be appealed.
The chip maker contended that the arbitration regarded contractual provisions unique to BlackBerry and “has no impact” on licensing agreements with other companies.
In a legal filing late Monday, Qualcomm denied the charges made by Apple in a lawsuit filed in January, while accusing Apple of failing to negotiate in good faith on patent royalties.
Apple’s complaint argued that Qualcomm abused its market power to demand unfair royalties, echoing charges by US antitrust regulators and authorities around the world.
But Qualcomm responded that Apple was abusing its position in the smartphone market to reduce the royalties it pays for technologies contributing to the success of the iPhone.
It added that Apple has encouraged antitrust regulators around the world — with complaints launched in South Korea, the European Union and elsewhere — by “intentionally giving government agencies false and misleading information and testimony about Qualcomm.”
In January, the US Federal Trade Commission hit Qualcomm with an antitrust suit alleging it abused its dominant position in the market for processors used in cell phones and other devices, resulting in higher prices for consumers.
Jumia Grabs Opportunity for Black Friday Deals
Black Friday is a concept that originated in the United States, but the yearly retail fever has had a popularity boom across Africa in recent years, with customers moving to take advantage of the best deals that retailers have available.
Jumia, which is a marketplace with its focus placed on Africa quickly grabbed this opportunity when it first introduced the Black Friday event about nine years ago across its markets in Africa, focusing mainly on Egypt and Cairo which are the company’s top two cities when considering volume of orders.
Since its inception, the company has witnessed staggering levels of success with the event, and company data reveals that the love which consumers have for Black Friday has been increasing across the continent every year.
During the 2020 Black Friday event, the top sellers on the Jumia platform saw a 141% year-on-year increase in the amount of items sold, with one out of three clicks on average being a new customer. The company also said that it witnessed an increase in brand appetite across every one of Jumia’s 10 markets during last year’s sale, which lasted every Friday in November.
The trend is expected to continue this year’s version of Jumia’s Black Friday, as it is running from November 5 until November 30.
The company which is based in Nigeria has entered into partnerships with major brands like Adidas, HP, Unilever and Diageo, as well as with thousands of sellers in order to provide consumers the best deals on a very wide range of products.
The CEO of Jumia Nigeria, Massimiliano Spalazzi told Lagos-based Vanguard that the Black Friday programme has been a success every year, and is the biggest sale of the year.
He also stated that the 2021 Black Friday campaign will place focus on strengthening the company’s position as a brand within the African market, and providing support to the sellers.
NQR Payment Solution Excites Nigerians: Everyone Can Now Pay Sharp Sharp
Since the NQR payment solution was introduced to the Nigerian market in March of this year, it has reached millions of Nigerians across major markets in different states. Lagos, Ibadan, Abuja, Kano, Uyo, and Portharcourt are just a few of the states that have witnessed the fast seamless, and reliable NQR payment solution.
Business owners and customers across Nigeria have embraced NQR en masse as a result of the market penetration drive, citing the convenience, speed, and reliability of the payment option.
The NQR Payment Solution is a secure QR-code-based payments and collections platform that allows customers and business owners to accept and make payments for goods and services. The payment system will bring together all of the country’s closed QR code schemes for a more consistent user experience and faster digital adoption.
The campaign was led by several popular celebrities who thrilled the market crowds and showcased how the NQR works. Mercy Johnson, Mercy Aigbe, Odunlade Adekola, Real Warri Pikin, Saddiq Sani Saddiq, Bisola Aiyeola, and Nedu were a few of the ambassadors for NQR. They encouraged business owners to sign up for NQR, and encouraged customers to make payments with NQR.
The NQR payment solution team recently toured Southern Nigeria, with comedians Edo Pikin and Real Warri Pikin leading the train to sensitize the people about how the NQR merchant app works and how customers can #PaySharpSharp with live demonstrations.
NQR agents also went through the markets educating both business owners and customers about NQR’s benefits. Representatives from several commercial banks were also on ground to address business owners’ concerns. Everyone learned about the NQR payment system and had the opportunity to test it out as well as express their satisfaction with it.
NQR is now available in a store near you.
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