Nokia has announced in apress releasethat the Finnish phone manufacturer and Apple have finally settled all of theirpatent disputesthat resulted in an agreement that withdraws all complaints filed by Nokia and Apple to the US International Trade Commission.
The agreement entails a one-time payment, as well as the continued payment of royalties, payable by Apple to Nokia for the term of the agreement. The specific terms of the contract are confidential.
Nokia CEO Stephen Elop says:
We are very pleased to have Apple join the growing number of Nokia licensees, said Stephen Elop, president and chief executive officer of Nokia. This settlement demonstrates Nokia’s industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market.
Story byFrancis Tan
Francis Tan is the Asia editor of TNW, who is based in the Philippines. He is particularly interested in Asian Internet startups, social me(show all)Francis Tanis the Asia editor of TNW, who is based in the Philippines. He is particularly interested in Asian Internet startups, social media and e-commerce. Get in touch with him via Twitter@francistanor Emailfrancis@thenextweb.com.
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