Nokia has signed a new patent cross-license agreement with Apple which will replace the current license signed in May 2017 that is due to expire at the end of 2023. The terms of the agreement remain confidential between the parties.
Jenni Lukander, President of Nokia Technologies 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.”
Beginning in January 2024, Nokia anticipates recording the revenue associated with this new patent licence deal. The agreement is in line with the presumptions Nokia disclosed in the remark regarding the long-term forecast for Nokia Technologies in its first-quarter financial report released on April 20, 2023.
Approximately 20,000 patent families, including more than 5,500 patent families identified as important to 5G, make up Nokia’s market-leading patent portfolio, which is based on more than €140 billion invested in R&D since 2000. In exchange for the right to licence them under FRAND (fair, reasonable, and non-discriminatory) terms, Nokia donates its innovations to open standards. Without having to make significant expenditures in the standards themselves, businesses can licence and utilise these technologies, encouraging innovation and the creation of new goods and services for consumers.
