Koninklijke Philips Electronics NV (PHGFF.PK,PHG: Quote) said it has resolved the patent disputes and also reached a patent license agreement with Nintendo Co. Ltd. (NTDOY.PK). Therefore, the patent infringement proceedings that Philips had initiated in Germany, the UK, France and the USA against Nintendo’s Wii, Wii U and DS handheld products would end.
Pursuant to the agreement, both the firms would cross-license portions of each company’s patent portfolio. The terms and financial details of the license deal are not disclosed.
“We are very pleased to have reached this agreement with Nintendo. It demonstrates that both companies recognize the importance of intellectual property rights,” said Brian Hinman, Chief Intellectual Property Officer of Philips.