Panasonic, SPT, and Xiaomi Executed Patent License Agreement for Cellular Communication Standards

Panasonic Holdings Corporation (“Panasonic”), Sun Patent Trust (“SPT”) and Xiaomi executed licensing agreement on cellular standard essential patents. The agreement was reached following amicable discussions among the parties.

With the conclusion of the agreement, the parties have agreed to withdraw all intellectual property disputes worldwide.

Andrew Y. Yen, Chief IP Counsel of Panasonic, stated, “We welcome the conclusion of this agreement, one of a pair that Panasonic simultaneously achieved with leading Chinese smartphone manufacturers. Panasonic could not do this alone and appreciates the hard work and dedication by Xiaomi’s licensing team and the SPT. The agreement reaffirms the contributions by Panasonic engineers to standardized technologies. This achievement will continue to fuel Panasonic’s corporate commitment to develop products, services and the underlying technologies that enhance the lives of consumers and advance global society. Xiaomi and Panasonic have been, and will continue to be, complementary business partners. With the newly forged relationship between the licensing teams, Panasonic and Xiaomi plan to identify IP collaboration opportunities that can complement and creates synergy towards their respective business offers and common business endeavors.”

Ran Xu, General Manager of Corporate Business Development and IP Strategy of Xiaomi, stated, “We are glad to reach a three-party agreement with Panasonic and SPT. Despite the advanced stage of the litigations, we maintained a cooperative spirit throughout the negotiations, seeking creative ways to achieve a resolution. Xiaomi has been a key contributor to global standardization and has consistently invested heavily in R&D since its foundation. We are delighted that the value of Xiaomi’s patents are recognized by this agreement. Xiaomi remains committed to delivering amazing products and enhancing consumer welfare, so as to enable everyone around the world to enjoy a better life through innovative technologies.”

Joseph Casino, Managing Trustee of Sun Patent Trust commented that “Sun Patent Trust is very pleased to secure its first licensee in China and looks forward to further recognition for the value of its patent portfolio. We appreciate the creativity of all involved to find a path to a license.”