Nokia signs patent deal with Apple
Nokia has announced it has signed a patent license agreement with Apple ending the on-going legal wrangle between the two companies.
The agreement will result in settlement of all patent litigation between the companies. This includes the withdrawal by Nokia and Apple of their respective complaints to the US International Trade Commission.
The financial structure of the agreement consists of a one-time payment payable by Apple and on-going royalties to be paid by Apple to Nokia for the term of the agreement. The specific terms of the contract will remain confidential.
Commenting on the deal, Nokia CEO, Stephen Elop, said it demonstrates the company’s leading patent portfolio.
“It enables us to focus on further licensing opportunities in the mobile communications market,” he said.
Nokia says the agreement is expected to have a positive financial impact on Nokia's recently revised outlook for the second quarter 2011.
Nokia and Apple have been in dispute since October 2009, when the mobile phone giant sued Apple in the United States over alleged patent violation.