Samsung said in a company blog today that it has ended its contract dispute with Microsoft. Microsoft had said the South Korean company owed it $6.9 million when it filed suit against the tech giant last summer.
It started like this. Microsoft wanted to work with Samsung to develop Samsung phones running the Windows Phone operating system. So the two formed a business collaboration agreement to do so.
But Samsung accused Microsoft of being in breach of the agreement as a result of the Redmond, Wash.-based company's purchase of Nokia's devices and services business in 2013.
So Microsoft asked a federal court to declare that Samsung's accusation wasn't the case, filing suit in the U.S. District Court in the Southern District of New York on Aug. 1. It also asked for damages of $6.9 million related to lost interest earnings while the dispute progressed.
The terms of the agreement, which were developed in arbitration, are confidential, Microsoft says.