Nokia receives $2 billion litigation settlement from Apple

In its financial results for the second quarter (Q2) of 2017 and for the first half of 2017, Nokia mentioned that it had increased cash inflow from an up-front cash payment of approximately EUR 1.7 billion, part of which was recognized in the second quarter 2017 results.

It would be recalled that in May, Nokia announced it had settled all litigation with Apple. The company also revealed that that they will update their capital structure optimization program, which means Apple agreed to pay a big one-time amount.

This means that Nokia scored a good deal with Apple. Apple agreed to pay up-front 2 billion dollars, of which some were paid in Q2. Apple will continue to pay royalties, along with the rest of this up-front payment.

Nokia said: “We got a substantial upfront cash payment of €1.7 billion from Apple, strengthening further our cash position. As said earlier, our plans is to provide more details on the intended use of cash in conjunction with our Q3 earnings.”