Nokia and Apple sign long-term patent license agreement
Nokia says it has signed a new patent cross-license agreement with Apple which will replace the current license that is due to expire at the end of 2023.
“We are delighted to have concluded a long-term patent license agreement with Apple on an amicable basis. The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies,” says Jenni Lukander, President of Nokia Technologies, in a press release.
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.
Nokia expects to recognise the revenue related to this new patent license agreement starting in January 2024. The terms of the agreement remain confidential between the parties.