ZTE agrees to settle with Ericsson, both withdraw suits

Chinese telecom company ZTE recently agreed to pay a licensing fee to the Swedish company Ericsson to settle long-running intellectual property disputes.

As part of the settlement, both sides also agreed to withdraw international patent infringement lawsuits targeting each other, including cases in Germany, the United Kingdom and China.

While the announcement did not disclose the size of the settlement, ZTE said it would not have an adverse effect on its fiscal condition and business operations.