Nokia and Apple extend patent license deal.

Nokia Signs New Long-Term Patent License Agreement with Apple

Nokia announced on Friday that it has signed a new long-term patent license agreement with Apple. The agreement comes as the current license between the two companies is set to expire at the end of 2023.

The terms of the agreement remain confidential, but it covers Nokia’s inventions in 5G and other technologies.

Nokia expects to start recognizing revenue related to the agreement from January 2024, aligning with the company’s long-term outlook disclosed in the first quarter.

The Finnish company’s patent portfolio is built on over 140 billion euros ($152.70 billion) invested in research and development, consisting of around 20,000 patents, including over 5,500 essential to 5G.

“The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies,” said Jenni Lukander, president of Nokia Technologies.

($1 = 0.9168 euros)

(Reporting by Khushi Mandowara in Bengaluru; Editing by Maju Samuel)

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