Samsung pays Qualcomm $1.3 billion to secure wireless licenses

Samsung and Qualcomm have wrapped up a cross-licensing deal with ten figures of US currency in it, which will permit the Korean giant to continue producing 3G- and 4G-enabled wireless devices for the next 15 years. In exchange, Samsung is letting Qualcomm make use of its own 57 patents on mobile technology and splashing out a further $1.3 billion as a down payment. Further royalty payments are involved, but not detailed, but just as a reference point, that's more than the new Dallas Cowboys stadium and its ultra-huge scoreboard cost to build. The move is a renewal of the two companies' current arrangement and Samsung has boldly claimed the terms of the new contract are more favorable to it, but we get the feeling the champagne will be flowing in San Diego this week.