Nokia has announced that Nokia and Apple have signed a new long-term patent license agreement, this new agreement replaces the current one which was due to expire and the end of this year.
The two companies entered into an agreement back in 2017 after they settled a patent dispute and this new agreement also covers 5G and other technology that Apple uses in its devices.
Nokia expects to recognize the revenue related to this new patent license agreement starting in January 2024. The agreement is consistent with the assumptions Nokia has disclosed in the commentary with respect to Nokia Technologies long-term outlook in its Financial Report for Q1 issued on April 20, 2023.
Nokia’s industry-leading patent portfolio is built on more than €140 billion invested in R&D since 2000 and is composed of around 20,000 patent families, including over 5,500 patent families declared essential to 5G. Nokia contributes its inventions to open standards in return for the right to license them on fair, reasonable and non-discriminatory (FRAND) terms. Companies can license and use these technologies without the need to make their own substantial investments in the standards, fueling innovation and the development of new products and services for consumers.
You can find out more information about the new patent licensing agreement between Nokia and Apple over at the Nokia website at the link below, the exact terms of the agreement between the two companies have not been revealed.
Source Nokia
Image Credit: Laurenz Heymann
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