Nokia Signs 5G Patent License Deal With Samsung; To Get Royalty Payments

(RTTNews) - Finnish critical networks and communications company Nokia Corp. (NOK) announced Monday that it has signed a new cross-license 5G patent agreement with Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB)

The latest deal, following the expiry of the previous agreement at the end of 2022, covers Nokia's fundamental inventions in 5G and other technologies.

Under the deal, Samsung will make payments to Nokia for a multi-year period beginning January 1, 2023. The terms of the agreement remain confidential between the parties.

Nokia noted that the agreement is consistent with the assumptions that it has disclosed in its long-term Nokia Technologies outlook commentary issued on October 20, 2022.

Jenni Lukander, President of Nokia Technologies, said, "The agreement gives both companies the freedom to innovate, and reflects the strength of Nokia's patent portfolio, decades-long investments in R&D and contributions to cellular standards and other technologies."