Nokia and Apple Extend Patent License Agreement, Covering 5G and More
Nokia, a leading provider of network infrastructure and 5G technology, has entered into a new long-term patent license agreement with Apple.
The agreement replaces their existing deal, set to expire in 2023, and allows Apple to utilize Nokia’s technology, particularly in the areas of 5G and other technologies.
The terms of the agreement, announced on Friday, have not been disclosed but signify the strength of Nokia’s patent portfolio and its contributions to cellular standards.
Details of the Patent License Agreement
The renewed patent license agreement between Nokia and Apple grants Apple the right to utilize Nokia’s patented technology in its products. The agreement covers Nokia’s innovations in 5G technology and various other technologies.
The specific terms of the agreement have not been made public. Nokia anticipates recognizing revenue related to this agreement starting from January 2024. Aligning with its long-term outlook disclosed in the first quarter.
Nokia boasts a robust patent portfolio, underpinned by substantial investments in research and development. Amounting to over €140 billion ($153 billion) since 2000.
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The portfolio comprises around 20,000 patent families, with over 5,500 patent families declared essential to 5G technology. This extensive Patent License Agreement collection reflects Nokia’s commitment to advancing cellular standards and other technological advancements.
As one of the leading suppliers of 5G technology globally, Nokia plays a significant role in the development and deployment of the latest generation of broadband technology.
Alongside other prominent players like Ericsson, Huawei, and also Samsung, Nokia contributes to shaping the future of 5G connectivity. The company’s headquarters are in Espoo, Finland.
The renewal of the patent license agreement between Nokia and Apple ensures the continued utilization of Nokia’s technology by Apple. Particularly in the realm of 5G and other technologies.
This agreement underscores Nokia’s strong patent portfolio, built on extensive investments in research and development. As a key player in the 5G market, Nokia remains committed to advancing cellular standards. And contributing to technological progress in the industry.