Nokia And Apple Call Truce In Patent Legal Battle

Posted: May 23 2017, 6:04am CDT | by , in News | Apple

 
Nokia and Apple Call Truce in Patent Legal Battle

New deal is much better for Nokia than the old one

Apple and Nokia have come to terms in the legal battle over patent license agreement. Investors had expected the legal battle to carry on reports Fortune with the deal coming as a surprise. Apple and Nokia announced that Nokia would receive an upfront cash payment and additional revenues from Appel starting in the current quarter. The two stopped short of giving full details on the agreement.

However, analysts expect the revenue that Apple sends to Nokia to be much higher than the previous amount under the old defunct deal. When the patent legal row was announced it was enough to push Nokia shares down in trading.

"We are pleased with this resolution of our dispute and we look forward to expanding our business relationship with Nokia," Apple Chief Operating Officer Jeff Williams said in a joint statement from the companies.

The old patent deal between the two firms expired last year and after the expiration Apple complained about being over charged under the terms of the agreement. Nokia then accused Apple of violating its patents.

"(The agreement) moves our relationship with Apple from being adversaries in court to business partners," Nokia's Chief Legal Officer Maria Varsellona said in a statement.

"For Nokia, it's good news they got this out of the way, but we still have to wait for details about the financial impact," said OP Equities analyst Hannu Rauhala.

"The previous annual rate was 150 million euros, so I assume this to be more, around 500 million euros."

The new agreement between the two firms will see Nokia provide network products and services to Apple and Apple will again sell Nokia digital health products in retail locations and online. Nokia also notes that it and Apple plan to expand partnerships in digital health.

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Tech and Car expert Shane McGlaun (Google) reports about what's new in these two sectors. His extensive experience in testing cars, computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
Shane can be contacted directly at shane@i4u.com.

 

 

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