Nokia and Apple settle and look ahead together
Nokia and Apple have settled all litigation regarding their intellectual property disputes, and have agreed on a multi-year patent license and business collaboration.
Under the new agreement, Nokia will provide network infrastructure products and services to Apple, and Apple in turn, will resume carrying Nokia’s digital health products in its retail and online stores.
Regular summits will also be organised between top executives of both companies, to ensure that the relationship remains beneficial for both parties and their customers.
“This is a meaningful agreement between Nokia and Apple,” says Maria Varsellona, chief legal officer at Nokia. “It moves our relationship with Apple from being adversaries in court to business partners working for the benefit of our customers.”
Details of the agreement remain confidential, but includes an up-front cash payment from Apple to Nokia, and additional revenue during the extent of the agreement. The value of the agreement will fall under patent licensing net sales in Nokia Technologies and as net sales in other Nokia Groups.
“We are pleased with this resolution of our dispute and we look forward to expanding our business relationship with Nokia,” says Jeff Williams, Apple’s chief operating officer.