Nokia has announced its entry into a new patent cross-license agreement with Apple, which will replace the existing license set to expire at the end of 2023. The specific terms of the agreement remain confidential between the two parties.
Jenni Lukander, President of Nokia Technologies, expressed her satisfaction with concluding a long-term patent license agreement with Apple on amicable terms.
She said: “We are delighted to have concluded a long-term patent license agreement with Apple on an amicable basis. The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies.”
Nokia anticipates recognizing the revenue associated with this new patent license agreement starting in January 2024.
The agreement aligns with the assumptions previously disclosed by Nokia in the commentary accompanying its Financial Report for Q1 issued on April 20, 2023, regarding the long-term outlook of Nokia Technologies.
Nokia boasts an industry-leading patent portfolio, built upon an investment of over €140 billion in R&D since 2000. This portfolio comprises approximately 20,000 patent families, including more than 5,500 patent families declared essential to 5G.
Nokia contributes its inventions to open standards, allowing companies to license and utilize these technologies without the need for significant investments on fair, reasonable, and non-discriminatory (FRAND) terms.
This approach promotes innovation and facilitates the development of new products and services for consumers.