Nokia renews patent license agreement with Apple
Reuters
Published Jun 30, 2023 21:53
Updated Jun 30, 2023 23:35
(Reuters) - Nokia (HE:NOKIA) said on Friday it had signed a new long-term patent license agreement with Apple (NASDAQ:AAPL), as the current license between the companies expires at the end of 2023.
While terms of the agreement remain confidential between the companies, it covers Nokia’s inventions in 5G and other technologies.
Nokia said the company expects to recognize revenue related to the agreement starting January 2024, and it is consistent with the company's long-term outlook disclosed in the first quarter.
Nokia’s patent portfolio is built on more than 140 billion euros ($152.70 billion) invested in research & development and is composed of around 20,000 patents, including over 5,500 declared essential to 5G, the Finnish company said.
"The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies," said Jenni Lukander, president of Nokia Technologies.
($1 = 0.9168 euros)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.