Nokia renews long-term patent licence agreement with Apple

Nokia has signed a new long-term patent licence agreement with Appl, prior to its expiration date, which was due by the end of 2023, Nokia announced on Friday.
The terms of the agreement are confidential between the companies, but it covers Nokia’s inventions in 5G and other technlogies.
“The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies,” said Jenni Lukander, Nokia’s president.
The company expects to recognise agreement related revenue starting January 2024, which is consistent with its long-term outlook disclosed in the first quarter.
Nokia’s potent portfolio has a $152.70 billion research and development investment base, and is composed of 20,000 patents, including 5,500 declared essential to 5G.