Nokia and Apple have renewed their patent license agreement!

 Nokia and Apple have renewed their patent license agreement, which covers Nokia's inventions in 5G and other technologies.

The terms of the agreement remain confidential, but Nokia expects to recognize revenue related to the agreement starting January 2024.

This is a positive development for both companies. It ensures that Nokia will continue to receive royalties from Apple for the use of its patents, and it gives Apple access to Nokia's extensive patent portfolio. This could be important for Apple as it continues to develop its own 5G and other wireless technologies.

The renewal of the patent license agreement is also a sign of the strong relationship between Nokia and Apple. The two companies have been working together for many years, and they have a history of resolving disputes amicably. This agreement is a further indication that their relationship is strong and that they are committed to working together in the future.

Key Facts:

👉 The agreement is for a "multi-year" period.
👉 Nokia's patent portfolio includes over 20,000 patents, including over 5,500 declared essential to 5G.
👉 Nokia expects to recognize revenue related to the agreement of approximately EUR 1.5 billion (USD 1.6 billion) over the life of the agreement.
👉 The agreement is consistent with Nokia's long-term outlook disclosed in the first quarter.

👉🏻 The agreement is a win-win for both companies. Nokia gets to continue to receive royalties from Apple for the use of its patents, and Apple gets access to Nokia's extensive patent portfolio.
👉🏻 The agreement is consistent with Nokia's long-term outlook. The company expects to recognize revenue related to the agreement of approximately EUR 1.5 billion (USD 1.6 billion) over the life of the agreement.
👉🏻 The agreement is a sign of the strong relationship between Nokia and Apple. The two companies have been working together for many years, and they have a history of resolving disputes amicably. This agreement is a further indication that their relationship is strong and that they are committed to working together in the future.

Other facts:
👉🏽 The agreement was negotiated by Nokia's Chief Legal Officer, Maria Varsellona.
👉🏽 The agreement was signed by Nokia CEO, Pekka Lundmark, and Apple CEO, Tim Cook.
👉🏽 The agreement is a significant milestone for Nokia, as it is the first time that the company has renewed a patent license agreement with Apple in over a decade.
👉🏽 The agreement is a sign of the growing importance of patent licensing in the tech industry. As more and more companies rely on patented technologies, patent licensing agreements are becoming increasingly common.

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