Ericsson - the Sweden based mobile network outfit has announced it has resolved ongoing patent infringement disputes with China based rival ZTE.
In April 2011, Ericsson filed lawsuits against ZTE in Italy and Britain, alleging ZTE infringed on a number of its patents. The company later filed another lawsuit against the Chinese telecom equipment maker in Germany.
ZTE was also quick to respond, and filed retaliatory lawsuit against Ericsson, accusing it of breaching some of its patents involving network technology.
For the past couple of years, ZTE has been desperately trying to expand its stake in the global mobile phone market.
"Ericsson has the strongest patent portfolio in the industry with over 27,000 patents and any company which sells mobile devices or systems needs a license from Ericsson," said Kasim Alfalahi, Chief Intellectual Property Officer at Ericsson, Bangok Post reports.
"We have signed more than 90 patent agreements with different vendors worldwide. Now we can add ZTE to this group," he added.
Ericsson already earns a rather hefty royalty amounts from its extensive range of intellectual property. The company managed to pocket over $4.6 billion last year through its intellectual property rights alone.