Nokia and Apple Reportedly Renew Patent License Agreement for 5G and Other Technologies
On Friday, Nokia announced that it had entered into a fresh long-term patent license agreement with Apple, as the existing license between the two companies is set to expire by the end of 2023.
Although the terms of the agreement are confidential between the companies, it covers Nokia’s inventions in 5G and other technologies.
Nokia said the company expects to record revenue related to the deal starting in January 2024, consistent with the company’s long-term outlook announced in the first quarter.
Nokia’s patent portfolio is based on more than 140 billion euros ($152.70 billion) in research and development and consists of about 20,000 patents, of which more than 5,500 have been declared essential for 5G, the Finnish company said.
“The agreement reflects the strength of Nokia’s patent portfolio, decades of investment in research and development, and investment in mobile phone standards and other technologies,” says Jenni Lukander, CEO of Nokia Technologies.
