Nokia and Huawei have signed a new patent licensing deal. The two companies have come to an agreement on Nokia’s patents. The deal is a multi year one and it will cover a wide range of Nokia patents.
The details of the deal have not been disclosed, it is not clear as yet on how much Huawei has paid Nokia for its use of their patents.
“Huawei is one of China’s largest companies and is among the world’s leading smartphone manufacturers and we are delighted to welcome them to our family of patent licensees,” said Maria Varsellona, chief legal officer at Nokia.
While details of the license agreement remain confidential, Nokia will follow its existing practices for disclosing patent licensing revenue in its quarterly financial reports and expects that revenue for the agreement will begin to be recognized in the fourth quarter of 2017, including an element of non-recurring catch-up revenue, with additional revenues expected during the term of the agreement.
You can find out more information about the deal between Huawei and Nokia at the link below.