Nokia, Apple Sign Patent License Agreement, Apple Pays Up
Nokia sued Apple over ten GSM, UMTS, and WiFi related patents allegedly infringed by Apple in its iPhones back at the end of 2009 with Cupertino striking back with a lawsuit against Espoo for alleged infringement of thirteen Apple patents. The two companies have reached an agreement and withdrew complaints to the U.S. International Trade Commission.
By power of the agreement Apple will pay Nokia a one-time check as well as on-going royalties from Cupertino to Espoo. Of course, the value of the checks as well as the terms of the agreement are confidential. While Nokia CEO Stephen Elop said “we are very pleased to have Apple join the growing number of Nokia licensees”, Nokia will definitely benefit from the injected capital as the Finnish company is not having one of its best financial periods.