Nokia renews patent license agreement with Apple By Reuters

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<span>© Reuters. FILE PHOTO: A mockup of the new Nokia logo is seen in this handout image released February 26, 2023. NOKIA/Handout via REUTERS/File Photo</span><br />
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<p>(Reuters) – Nokia (NYSE:) said on Friday it had signed a new long-term patent license agreement with Apple (NASDAQ:), as the current license between the companies expires at the end of 2023.</p>
<p>While terms of the agreement remain confidential between the companies, it covers Nokia’s inventions in 5G and other technologies.</p>
<p>Nokia said the company expects to recognize revenue related to the agreement starting January 2024, and it is consistent with the company’s long-term outlook disclosed in the first quarter.</p>
<p>Nokia’s patent portfolio is built on more than 140 billion euros ($152.70 billion) invested in research &amp; development and is composed of around 20,000 patents, including over 5,500 declared essential to 5G, the Finnish company said.</p>
<p>“The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&amp;D, and contributions to cellular standards and other technologies,” said Jenni Lukander, president of Nokia Technologies.</p>
<p>($1 = 0.9168 euros) </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/nokia-renews-patent-license-agreement-with-apple-3118118">Source link </a></p><p>The post <a href="https://forextraderhub.com/nokia-renews-patent-license-agreement-with-apple-by-reuters.html">Nokia renews patent license agreement with Apple By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>