Nokia and Apple Forge New Long-Term Patent Cross-License Agreement
Nokia, the Finnish telecommunications company, has recently announced a significant development in its relationship with Apple. The two tech giants have signed a new long-term patent cross-license agreement, replacing their previous arrangement from May 2017, which is set to expire towards the end of 2023.
This latest patent license agreement encompasses Nokia's extensive range of inventions, particularly in the field of 5G technology, as well as other cutting-edge technologies. Although the specific terms of the agreement have not been disclosed, Nokia has confirmed that it will receive payments from Apple over a multi-year period. The company expects to commence recognizing the revenue associated with this new agreement starting in January 2024.
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The newly established agreement between Nokia and Apple aligns with Nokia's long-term strategic outlook, as outlined in its Financial Report disclosed on April 20, 2023. Nokia views this development as a positive outcome resulting from an amicable negotiation process. Jenni Lukander, President of Nokia Technologies, expressed her satisfaction, stating, "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's extensive patent portfolio is the result of over €140 billion invested in research and development since 2000. It encompasses approximately 20,000 patent families, with over 5,500 patent families deemed essential to 5G technology.
This new patent cross-license agreement signifies a continuation of the partnership between Nokia and Apple, allowing both companies to leverage their technological innovations for mutual benefit. The agreement serves as a testament to the value and importance of intellectual property rights in the ever-evolving landscape of the telecommunications industry.
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