Sony, 3M settle battery patent dispute

NEW YORK (CNNMoney.com) -- 3M Co. said Monday it has reached agreement in patent settlement with Sony Corp. over the technology in a type of battery used in laptop computers and cell phones.

St. Paul, Minn.-based 3M said in a statement that Sony's Sony Electronics unit is now a licensed source of lithium ion batteries containing 3M cathode technology.

Specific terms of the settlement are confidential, 3M said. Sony was not immediately available for comment.

3M said the patent dispute against Sony and other companies was filed in the U.S. District Court for Minnesota and the United States International Trade Commission in March.

The company said it holds patents on cathode materials containing nickel, manganese and cobalt, which the company says are an important technology for current and next generation lithium ion batteries.

Rechargeable lithium ion batteries are found in laptop computers, mobile phones and portable electronic devices, and are increasingly being used in battery-powered hand tools, 3M said.

The company was not immediately available to disclose battery sales figures, but valued the cathode materials market at $700 million a year.

The maker of Scotch tape and Post-It notes settled a similar patent dispute in May that made Matsushita Electric Industrial Co. (up $0.33 to $18.35, Charts) and Panasonic licensed sources of batteries using 3M cathode materials.

Earlier this month, 3M reached a settlement with Batteries.com in which the Internet retailer agreed to sell laptop batteries manufactured by a licensed source of 3M's patented lithium ion battery technology and cease selling batteries that infringe 3M's patents.

3M has also filed a complaint against the Lenovo Group unit of Hitachi (up $0.93 to $71.43, Charts) as well as CDW Corp. (up $0.41 to $84.91, Charts, Fortune 500) and Sanyo Electric Co.

3M (up $0.13 to $90.18, Charts, Fortune 500) and Sony (up $0.71 to $53.75, Charts) shares were little changed on the New York Stock Exchange Monday.