Nokia Signs Patent License Agreement with Apple to Cover 5G and Other Technologies

Highlights

• Nokia, a producer of 5G technology, and Apple have agreed to a new, long-term patent licence.
• The agreement is established to advance Nokia's technologies and 5G network.
• Nokia claimed that the foundation of its patent portfolio is more than 140 billion dollars' worth of research expenditures.

Nokia, a provider of network infrastructure and 5G technologies, and Apple have replaced their previous patent license agreement, which is slated to expire at the end of 2023 with a new long-term one.

The agreement includes Nokia's innovations in 5G and other technologies, allowing Apple to use them in its products. The agreement's specifics, which were disclosed late Friday, are secret.

"The deal is consistent with Nokia's long-term outlook that was disclosed in the first quarter," the company stated. "Revenue related to the agreement is expected to be recognized beginning in January 2024."

In a statement, Nokia Technologies President Jenni Lukander said, "The agreement reflects the strength of Nokia's patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies." Apple and Nokia's previous license agreement was announced in May 2017.

Nokia said its patent portfolio is based on in excess of 140 billion bucks ($153 billion) put resources into innovative work beginning around 2000 and is made out of around 20,000 patent families, including north of 5,500 patent families proclaimed fundamental to 5G.

Nokia, situated in Espoo, Finland, is one of the world's principal providers of 5G, the most recent age of broadband innovation, alongside Sweden's Ericsson, China's Huawei, and South Korea's Samsung. In its Financial Report, which was made public on April 20, 2023, the Finnish company also stated that the new agreement it has with Apple is in line with its long-term outlook.

Remarking on this understanding, Jenni Lukander, Leader of Nokia Innovations, said, "We are really glad to have come up with long-term patent license agreement with Apple on a neighborly premise."