Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Verizon Communications    VZ

VERIZON COMMUNICATIONS

(VZ)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Verizon Communications : Huawei asks Verizon to pay over $1 billion for over 230 patents

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/12/2019 | 05:17pm EDT
The Verizon logo is seen on the side of a truck in New York

WASHINGTON (Reuters) - Huawei Technologies Co Ltd has told Verizon Communications Inc that the U.S. carrier should pay licensing fees for more than 230 of the Chinese telecoms equipment maker's patents and in aggregate is seeking more than $1 billion, a person briefed on the matter said on Wednesday.

Verizon should pay to "solve the patent licensing issue," a Huawei intellectual property licensing executive wrote in February, the Wall Street Journal reported earlier. The patents cover network equipment for more than 20 of the company's vendors including major U.S. tech firms but those vendors would indemnify Verizon, the person said. Some of those firms have been approached directly by Huawei, the person said.

The patents in question range from core network equipment, wireline infrastructure to internet-of-things technology, the Journal reported. The licensing fees for the more than 230 patents sought is more than $1 billion, the person said.

Huawei has been battling the U.S. government for more than a year. National security experts worry that "back doors" in routers, switches and other Huawei equipment could allow China to spy on U.S. communications. Huawei has denied that it would help China spy.

Companies involved, including Verizon have notified the U.S. government and the dispute comes amid a growing feud between China and the United States. The licensing fee demand may be more about the geopolitical battle between China and the United States rather than a demand for patent fees.

Huawei and Verizon representatives met in New York last week to discuss some of the patents at issue and whether Verizon is using equipment from other companies that could infringe on Huawei patents.

Verizon spokesman Rich Young declined to comment "regarding this specific issue because it's a potential legal matter."

However, Young said, "These issues are larger than just Verizon. Given the broader geopolitical context, any issue involving Huawei has implications for our entire industry and also raise national and international concerns."

Huawei and U.S. wireless carriers T-Mobile US Inc and AT&T Inc did not respond to Reuters' requests for comment. Sprint Corp declined to comment.

The United States last month put Huawei on a blacklist that barred it from doing business with U.S. companies on security grounds without government approval, prompting some global tech firms to cut ties with the world's largest telecoms equipment maker.

Washington is also seeking the extradition of Huawei Chief Financial Executive Meng Wanzhou from Canada after her arrest in Vancouver last December on a U.S. warrant.

China has since upped the pressure on Canada, halting Canadian canola imports and in May suspended the permits of two major pork producers.

(Reporting by Arjun Panchadar in Bengaluru and David Shepardson in Washington; Editing by Anil D'Silva, Sriraj Kalluvila and Sandra Maler)

By David Shepardson

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VERIZON COMMUNICATIONS
01:49aVERIZON COMMUNICATIONS : Media accelerates premium native supply with Apple News..
PU
10/16VERIZON COMMUNICATIONS : expands its Virtual Network Services portfolio
PU
10/15VERIZON COMMUNICATIONS : Pixel 4 and Pixel 4 XL are now available at Verizon
PU
10/15Goodwill Rules Are Called Subjective, Overly Costly -- WSJ
DJ
10/14Companies Say Costs of Complying With Goodwill Accounting Rules Outweigh Bene..
DJ
10/11VERIZON COMMUNICATIONS : BUILT BY GIRLS, Speck And Verizon Unveil Winning Design..
PR
10/09VERIZON COMMUNICATIONS : Ex-dividend day for
FA
10/08VERIZON COMMUNICATIONS : Movies Anywhere launches on Verizon Fios
PU
10/03VERIZON COMMUNICATIONS : TechCrunch Disrupt SF 2019 announces Startup Battlefiel..
PU
10/02VERIZON COMMUNICATIONS : and Tom Tom co-innovate to help improve public safety w..
PU
More news
Financials (USD)
Sales 2019 131 B
EBIT 2019 31 106 M
Net income 2019 18 971 M
Debt 2019 106 B
Yield 2019 4,04%
P/E ratio 2019 13,2x
P/E ratio 2020 12,4x
EV / Sales2019 2,71x
EV / Sales2020 2,62x
Capitalization 249 B
Chart VERIZON COMMUNICATIONS
Duration : Period :
Verizon Communications Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VERIZON COMMUNICATIONS
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 60,88  $
Last Close Price 60,29  $
Spread / Highest target 16,1%
Spread / Average Target 0,97%
Spread / Lowest Target -18,7%
EPS Revisions
Managers
NameTitle
Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Network Operations & Technology Officer
Nicola Palmer Head-Technology & Product Development
Clarence Otis Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
VERIZON COMMUNICATIONS7.24%249 359
NIPPON TELEGRAPH AND TELEPHONE CORPORATION20.93%90 523
DEUTSCHE TELEKOM AG5.99%82 288
SAUDI TELECOM COMPANY SJSC--.--%52 942
BCE INC.20.03%44 125
ORANGE5.12%43 453