Explainer: Why is Huawei seeking $1 billion patent deal with Verizon?

Huawei is demanding Verizon Communications Inc pay $1 billion to license the rights to patented technology, signaling a potential shift in the embattled Chinese company’s strategy for the U.S. market. A Huawei executive made the demand in a February letter, a person briefed on the matter told Reuters. The Wall Street Journal first reported on the letter on Wednesday. The fee would cover licensing of more than 230 patents. Verizon spokesman Rich Young declined to comment “regarding this specific issue because it’s a potential legal matter.” Read more