5G Tech Provider Nokia Renews Patent License Agreement with Apple To Replace Present Deal

CIOTechOutlook Team | Monday, 03 July 2023, 03:09 IST

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Nokia, a provider of network infrastructure and 5G technologies, and Apple have replaced their previous patent licence agreement, which is slated to expire at the end of 2023 with a new long-term one.The agreement covers Nokia's innovations in 5G and other technologies, allowing Apple to use them in its products. The agreement's specifics, which were just recently publicised, are still secret.
 
Nokia said the deal is consistent with its long-term view, which was revealed in the first quarter, and that it expects to start recognising revenue linked to the agreement in January 2024.
 
“The agreement reflects the strength of Nokia's patent portfolio, decades-long investments in Rand D, and contributions to cellular standards and other technologies,” Nokia Technologies President Jenni Lukander said in a statement.
 
Apple and Nokia previously announced a licence arrangement in May 2017.Nokia claimed that its patent portfolio, which consists of almost 20,000 patent families and more than 5,500 patent families identified as crucial to 5G, is based on more than USD 153 billion invested in research and development since 2000.
 
Along with the Chinese company Huawei, the South Korean company Samsung, and the Swedish company Ericsson, the Espoo, Finland-based Nokia is one of the primary manufacturers of 5G, the most recent generation of broadband technology. 
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