A new agreement got inked between Nokia and Apple
The American tech giant, Apple, and Nokia, which is striving to re-establish itself in the smartphone world, have signed a significant agreement.
Tech giants Nokia and Apple have embarked on a new journey by refreshing their long-standing patent cross-license agreement that was first established in 2017. The previous agreement is set to expire by the end of 2023, and in anticipation of this, both companies have proactively worked on renewing their partnership. This update was announced by Nokia, and the revised agreement is said to encompass Nokia's inventions related to 5G technology and other critical patents.
While the precise details of the newly minted agreement remain undisclosed, Nokia has revealed that Apple will provide payments for a multi-year period beginning in January 2024. The financial consequences of this agreement have been taken into account in Nokia's current financial forecast.
Nokia has expressed satisfaction at having been able to conclude this extensive patent license agreement with Apple on a friendly basis. The Finland-based company emphasized that this agreement testifies to the strength of Nokia's patent portfolio, which is the result of years of investment in research and development. It further underscores Nokia's significant contributions to cellular standards and other technological advancements over the years.
A new agreement got inked between Nokia and Apple
Nokia has a storied history of substantial investment in research and development, with over €140 billion ($ billion) invested since the turn of the millennium. This massive investment has yielded a substantial repository of 20,000 patent families. Notably, Nokia is the frontrunner when it comes to patents related to 5G technology, boasting around 5,500 such patents to date.
As for Apple, the company aims to capitalize on the technological benefits of these patents in its upcoming products. The 5G technology and other patented innovations developed by Nokia will be utilized across a broad spectrum of Apple devices that require such advancements for deployment and use.
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