The FINANCIAL — Lenovo and Via Licensing Corporation (Via), one of the leading world-wide intellectual property solutions providers, have entered into an agreement granting Lenovo a license to past and future use of the patented technology in Via’s Advanced Audio Coding (AAC) patent pool.
That technology, incorporated in Lenovo’s smartphones and tablets sold in over 100 countries, enables consumers to enjoy extremely high quality audio and other benefits on their Lenovo devices, according to Lenovo.
“Via and the AAC licensors are pleased to welcome Lenovo into our large and ever growing family of licensees who recognize both the benefits of the AAC technology and the fair terms of Via’s pool license. We are delighted Lenovo shall be using AAC technology in its licensed products,” said Joe Siino, President of Via. “By joining more than 800 licensees in the AAC pool, Lenovo continues to play a critical leadership role in promoting respect for innovation and intellectual property rights in China and throughout the world.”
“We are extremely pleased that Via, through its licensing practices, continues a leadership role in recognizing and flexibly addressing unique market circumstances applicable to China and other emerging markets,” said Ira Blumberg, vice president, Intellectual Property, Lenovo. “Via’s fair, reasonable and nondiscriminatory approach to worldwide licensing has enabled us to reach agreement on terms that reflect fair value for the sale of products implementing the patented technologies in markets around the world.”