Samsung boosts its patent portfolio

London - British chip firm CSR has sold its mobile phone connectivity and location technology to Samsung for $310 million in cash in a deal that boosts the South Korean company's patent portfolio.

Samsung will also invest $34.4 million in buying a 4.9 percent stake in CSR at a price of 223 pence a share, CSR said in a statement on Tuesday.

Samsung did not provide net income or details of division earnings ahead of the official earnings report to be filed later this month. Credit: REUTERS

CSR said the deal would enable it to focus on developing and selling chips in voice and music, automotive, indoor location, imagining and bluetooth. - Reuters