Apple and Nokia agree on a long-term patent pact
To replace the current licensing deal inked in 2017, tech companies Nokia and Apple have signed a revised long-term patent cross-license agreement. At the end of 2023, the prior agreement will expire. The new deal will include Nokia's innovations in 5G technology and other significant patents, according to Nokia, which made the announcement.
In accordance with a commercial partnership agreement, Nokia will give Apple certain network infrastructure products and services. In addition to investigating potential future collaboration in digital health projects, Apple and Nokia will once again sell Nokia digital health devices (formerly sold under the Withings brand) in Apple retail and online shops.
Beginning in January 2024, Nokia anticipates recording the revenue associated with this new patent license deal. The agreement is in line with the presumptions Nokia revealed in the remark about the long-term forecast for Nokia Technologies in its first-quarter financial report released on April 20, 2023. The agreement with Apple was described as "amicable" by Jenni Lukander, head of Nokia Technologies.
Top Nokia and Apple officials will regularly meet to ensure that the cooperation is successful and advantageous to both sides' customers.
Apple and Nokia executives are happy with the long-term partnership
Both Apple and Nokia made official announcements from their official websites. In these announcements, both companies gave insight into the agreement, and some of the executives expressed their opinions on what is next for both firms.
"Nokia’s industry-leading patent portfolio is built on more than €140 billion invested in R&D since 2000 and is composed of around 20,000 patent families, including over 5,500 patent families declared essential to 5G. 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 said in the official announcement.
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“We are pleased with this resolution of our dispute, and we look forward to expanding our business relationship with Nokia,” said Jeff Williams, Apple’s chief operating officer.
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