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Nokia, Apple Settle Patent Dispute

Nokia said it would receive an up-front cash payment and additional revenues from Apple, but did not specify the details of the patent deal.

Reuters

Updated:May 23, 2017, 1:22 PM IST
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Nokia, Apple Settle Patent Dispute
Nokia - Representative Image. (Image: Siddhartha Sharma/ News18.com)
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Finland's Nokia said on Tuesday it has settled its patent dispute with Apple and also signed a business collaboration deal with the U.S. company.

Nokia said it would receive an up-front cash payment and additional revenues from Apple, but did not specify the details of the patent deal.

Revenues from the agreement, as well as a non-recurring catch-up revenue, will start running from this quarter, Nokia said.

Under the business agreement, Nokia said it would provide network infrastructure products and services to Apple while Apple would resume carrying Nokia's digital health products in its retail and online stores.

Nokia shares opened 5 percent higher on the news in the early Helsinki trade.

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