Nokia enters patent license agreement with Apple
Nokia issued a press release this morning stating that it has reached an agreement with Apple that includes the settlement of all patent litigation between the companies. This includes a one-time payment from Apple and ongoing royalties. The specific contract terms are confidential.
Apple had won a round in the patent fight with Nokia in March when the International Trade Commission found that Apple wasn't violating five Nokia patents. Apple had also filed suit against Nokia, and a judgment in that case was expected this month. The dispute between the two companies goes all the way back to 2009 and involved a variety of suits and countersuits, including alleged infringement on GSM and wireless LAN patents, claims of stolen technology and more.
The full press release can be read below.
The financial structure of the agreement consists of a one-time payment payable by Apple and on-going royalties to be paid by Apple to Nokia for the term of the agreement. The specific terms of the contract are confidential.
"We are very pleased to have Apple join the growing number of Nokia licensees," said Stephen Elop, president and chief executive officer of Nokia. "This settlement demonstrates Nokia's industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market."
During the last two decades, Nokia has invested approximately EUR 43 billion in research and development and built one of the wireless industry's strongest and broadest IPR portfolios, with over 10,000 patent families. Nokia is a world leader in the development of handheld device and mobile communications technologies, which is also demonstrated by Nokia's strong patent position.
This agreement is expected to have a positive financial impact on Nokia's recently revised outlook for the second quarter 2011 of around break-even non-IFRS operating margin for Devices & Services.
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