Seiko Epson Corporation has announced that it has agreed to settle a lawsuit that was filed against it by Nokia, concerning liquid crystal displays (LCD). The litigation, in courts in the United States and the United Kingdom, had alleged violations of antitrust and competition laws.

As a full settlement Epson has agreed to pay Nokia some $80 million and the litigation by Nokia will cease.

Epson also reports that the payment to Nokia will result in an extraordinary loss being reported for Q3 2012, but the full year forecast is not changed.

The full press release is available online.