Nokia renews patent license agreement with Apple, covering 5G, other tech
Nokia expects to recognize revenue related to the agreement starting in January 2024, and the company said the deal was in line with its long-term expectations disclosed in the first quarter.
Network infrastructure and 5G technology provider Nokia has signed a new long-term patent licensing agreement with Apple to replace the existing deal between the two companies which is set to expire at the end of 2023.
The deal, which enables Apple to use the Finnish company’s technology in its products, covers Nokia’s inventions in the fifth generation and other technologies. The terms of the deal, announced late Friday, have been kept confidential.
Nokia expects to recognize revenue related to the agreement beginning in January 2024, and the company said the deal is in line with its long-term expectations disclosed in the first quarter.
The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in the D-Rand, and contributions to cellular standards and other technologies, Jenny Lokander, president of Nokia Technologies, said in a statement.
The previous licensing agreement between Apple and Nokia was announced in May 2017.
Nokia said its patent portfolio is built on more than €140 billion (US$153 billion) invested in research and development since 2000, and consists of around 20,000 patent families, including more than 5,500 patent families announced as necessary for the fifth generation network.
Headquartered in Espoo, Finland, Nokia is one of the world’s major suppliers of 5G technology, the latest generation of broadband technology, along with Sweden’s Ericsson, China’s Huawei and South Korea’s Samsung.
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First published: Jul 01 2023 | 5:24 p.m ist