Technology licensing firm Wi-LAN Inc announced on Monday that it has signed a letter of intent to settle a lawsuit filed against it by Canada's No. 2 phone company Telus Corp.

Telus Corp. had filed a legal challenge against Rogers Communications Inc., and the result of the challenge is the fact that Rogers is no more what it used to be. Until recently, Rogers boasted of being the fastest and the most reliable of wireless networks in Canada.

Vancouver based wireless carrier, Telus Corp., has reported a drop in the third quarter profits stating that customers made fewer phone calls using their mobile phones for the period. The total net earnings fell to C$280 million ($261 million), or 88 cents a share, for the July-September period for the current year, down from C$286 million, or 89 cents, recorded last year.

While, Telus Corp. has seen a 5% growth in revenue in its fourth quarter, due to rising in wireless and data services, Canada's second-largest phone company added 148,000 new wireless customers in the quarter, 9% fewer cell phone customers than last year, reflecting an industry trend that shows a slow down in growth for wireless products.