6 November 2024, Wed |
4:15 AM
In a significant development for the tech industry, Nokia, the renowned network infrastructure and 5G technology provider, has reached a new long-term patent licence agreement with Apple. The agreement will replace the current deal between the two companies, which is set to expire at the end of 2023.
Under this renewed agreement, Apple will continue to have access to Nokia’s cutting-edge technology for use in its products. The deal encompasses Nokia’s inventions in 5G and other critical technologies. However, specific details and terms of the agreement have been kept confidential.
Nokia is confident that this renewed collaboration will bring in substantial revenue, with recognition set to commence from January 2024. The company asserts that this new agreement aligns with its long-term outlook as disclosed in the first quarter of the year.
Nokia Technologies President, Jenni Lukander, expressed her satisfaction with the agreement, highlighting Nokia’s robust patent portfolio, which stems from decades of investments in research and development. She also emphasized Nokia’s significant contributions to the development of cellular standards and other technological advancements.
The previous licence agreement between Apple and Nokia was first announced in May 2017, indicating a history of fruitful cooperation between the two tech giants.
Nokia’s impressive patent portfolio is built upon a staggering investment of more than €140 billion ($153 billion) in research and development since the year 2000. The portfolio consists of approximately 20,000 patent families, with over 5,500 patent families declared essential to 5G technology.
Nokia, headquartered in Espoo, Finland, is a major player in the 5G technology space, standing alongside other industry leaders such as Ericsson from Sweden, Huawei from China, and Samsung from South Korea.
This renewed partnership between Nokia and Apple is likely to have far-reaching implications for the development and deployment of cutting-edge technology in the consumer electronics market. As both companies continue to innovate and collaborate, consumers can expect to see more exciting advancements in their products in the coming years.
The terms of the agreement, though undisclosed, suggest a strong commitment from both Nokia and Apple to advance the state of 5G technology and foster further technological breakthroughs in the industry. With Nokia’s patent prowess and Apple’s innovative products, the renewed partnership is poised to shape the future of mobile technology and beyond.
