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Samsung Elec to make $1.3 bln down payment to Qualcomm

Wed Nov 4, 2009 6:37pm EST

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SEOUL, Nov 5 (Reuters) - Samsung Electronics Co Ltd (005930.KS) said on Thursday it would make a $1.3 billion down payment to Qualcomm Inc (QCOM.O) for a wireless telecom license.

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The South Korea-based company told the stock exchange in a filing that the contract would last 15 years and would involve another recurring loyalty payment, which it did not specify.

(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)

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