Finland’s Nokia derives most of its revenue from royalties for the use of its patented technologies. Therefore, the extension of the license agreement with Samsung Electronics is a landmark event for the company.Nokia has signed a new multi-year cross-licensing agreement with the South Korean giant. License fee payments were reinstated from 1 January. The previous license agreement expired at the end of last year and now the parties have renewed it.
Covering solutions in the 5G space
The agreement, which covers Nokia’s 5G and other key technological solutions, is of strategic importance for Samsung in the current environment. Thanks to these licenses, the company will be able to continue to manufacture devices using Nokia’s patented technologies.
The terms of the new license agreement have not yet been disclosed, but Nokia representatives state that the agreement was signed on friendly terms. Jenni Lukander, President of Nokia Technologies, made the following statements on the subject:
“This agreement gives both companies the freedom to innovate and reflects the strength of Nokia’s patent portfolio, its decades of investment in R&D and its contribution to cellular standards and other technologies.”
Oppo and Vivo failed to reach agreement
The Finnish company extended its license agreement with Huawei last December. However, two other Chinese smartphone makers Oppo and Vivo have yet to reach an agreement with representatives of the Finnish company.
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