Huawei, LG Electronics and Nokia Named as Founder Licensors of New Sisvel POS Pool

LUXEMBOURG--(BUSINESS WIRE)--Three world-class innovators are the founder licensors of the new Point of Sale (POS) patent pool, covering 2G to 5G technology, which Sisvel has launched today.

Huawei, LG Electronics and Nokia have made their standard essential patents (SEPs) reading on cellularly connected POS devices available through the programme, so simplifying access to the increasingly ubiquitous technology.

Early participation incentives for licensors to join the pool are available until mid-May. Other cellular patent owners not currently in discussions with Sisvel are encouraged to get in touch.

Ranging from handheld card machines to tablet-based registers, POS devices have transformed customer payment processing. Increasingly, they also offer enhanced capabilities such as inventory management, real-time tracking, advanced analytics and automatic re-ordering.

Standardised cellular technology is the critical feature that enables POS terminals to function wherever customers are located. The Sisvel POS programme offers an efficient and transparent way for implementers to access the relevant SEPs of the participating patent owners under fair, reasonable and non-discriminatory (FRAND) terms.

“Cellular technology has revolutionised the payments experience for both purchasers and vendors, and the new Sisvel POS pool will make accessing it more efficient and transparent,” says programme manager Sven Törringer. “As new licensors are expected to join soon, the programme is set to become even more compelling. This is an exciting day for Sisvel and the POS market. We thank Huawei, LG Electronics and Nokia for their leadership.”

About Sisvel

Sisvel is driven by a belief in the importance of collaboration, ingenuity and efficiency to bridge the needs of patent owners and those who wish to access their technologies. In a complex and constantly evolving marketplace, our guiding principle is to create a level playing field through the development and implementation of flexible, accessible, commercialisation solutions.

Sisvel | We Power Innovation