Toshiba to Pay Micron $288 Million

Toshiba has agreed to pay $288 million to settle lawsuits between it and memory chipmaker Lexar Media, which was acquired by Micron Technology in June. Since 2002, Lexar has been engaged in a court battle with Toshiba regarding patent infringement of flash memory technology.

In exchange for the payment, Toshiba will receive licenses for all the patents held by Lexar. Lexar had filed a complaint with the International Trade Commission demanding that Toshiba stop importing flash memory chips into the United States, which could have proven disastrous for the number-two NAND memory maker. Samsung is currently the world's leading supplier of flash memory.