ALBAWABA - Finnish company Nokia Technologies has announced the signing of a new long-term mutual licensing agreement with the American company Apple, according to a statement on Nokia's official website.
The company added that the new agreement will replace the current licensing agreement, which expires at the end of this year, and the terms of the agreement will remain confidential between the parties.
Nokia expects to generate revenue related to this new patent licensing agreement starting from January 2024. Jenni Lukander, the President of Nokia Technologies, said, "We are pleased to enter into a long-term patent licensing agreement with Apple on a friendly basis, and the agreement reflects the strength of Nokia's patent portfolio and its decades-long investments in research and development, as well as contributions to cellular and other technologies." The agreement aligns with the assumptions disclosed by Nokia regarding the long-term expectations of Nokia Technologies in its financial report for the first quarter, issued on April 20, 2023.
Nokia's patent portfolio has been built with an investment of over 140 billion euros in research and development since 2000. It consists of approximately 20,000 patent families, including more than 5,500 patent families declared essential to 5G technology.
