Nokia has announced that it has signed a new long-term patent cross-licensing agreement with Apple to replace the current licensing agreement signed in May 2017, which will expire in late 2023.
The new patent licensing agreement covers Nokia’s inventions in 5G and other technologies. The terms of this agreement between the two companies remain confidential, but Nokia said it will receive payments from Apple over a multi-year period and expects to recognize revenues related to this new agreement beginning in January 2024.
The Finnish company also said the new deal with Apple is consistent with its long-term prospects in its financial report released on April 20, 2023.
Commenting on this agreement, Jenni Lukander, President of Nokia Technologies, said: “We are pleased to have entered into a long-term patent licensing agreement with Apple on an amicable basis. The agreement reflects the strength of Nokia’s patent portfolio, decades of investment in research and development, and contributions to cellular standards and other technologies.”
Nokia’s patent portfolio is based on more than €140 billion invested in research and development since 2000 and includes approximately 20,000 patent families, including more than 5,500 patent families essential for 5G.
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