Nokia Signs Long-term Patent License Deal With Apple

(RTTNews) - Nokia Corp (NOK) announced that it has signed a new long-term patent cross-license agreement with Apple Inc. (AAPL). Nokia stated that this deal will replace the current license that is due to expire at the end of 2023.

Nokia expects to receive new patent license agreement starting in January 2024. The terms of the agreement remain confidential between the parties.

The agreement is consistent with the assumptions Nokia has disclosed in the commentary with respect to Nokia Technologies long-term outlook in its Financial Report for Q1 issued on April 20, 2023.

Jenni Lukander, President of Nokia Technologies, said: "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."