Apple Inc. has extended its patent license agreement with Nokia, securing access to the Finnish company’s network infrastructure and 5G technology. This new long-term agreement replaces the current deal between the two companies, which is set to expire at the end of this year.
- Apple and Nokia signed a new long-term patent license agreement.
- The agreement covers Nokia’s network infrastructure and 5G technology.
- It replaces the current agreement, which expires this year.
- Terms of the agreement remain confidential.
- Nokia’s extensive patent portfolio includes over 5,500 essential 5G patents.
- Apple can confidently incorporate reliable 5G technologies in its upcoming devices.
- Nokia expects to recognize revenue from the agreement starting in January 2024.
The details of the agreement are not publicly disclosed, but it allows Apple to utilize Nokia’s extensive patent portfolio, which includes over 5,500 essential 5G patents. By partnering with Nokia, Apple gains access to reliable 5G technologies, enhancing its ability to incorporate them into future devices, such as the upcoming iPhone.
Last night we announced a new long-term patent license agreement with Apple which covers Nokia’s fundamental inventions in #5G and other technologies. Apple will make payments to Nokia for a multi-year period. Read more: https://t.co/DvFb8ioP0g pic.twitter.com/yFTf6eKKSt— Nokia (@nokia) July 1, 2023
Nokia, a key player in the field of 5G technology, competes with other major providers like Ericsson, Huawei, and Samsung. With its long-standing expertise and extensive R&D investments, Nokia has built a strong patent portfolio worth over EUR 140 billion (approximately ₹12,55,260 crore). This agreement further solidifies Nokia’s position in the market.
The financial benefits of the agreement are expected to be revealed by Nokia in the second quarter of next year. With the extended patent license agreement, both Apple and Nokia stand to gain from their collaboration, leveraging each other’s strengths and contributing to the advancement of 5G technology.
Table: Nokia’s Essential 5G Patents
Note: This article is for informational purposes only and does not constitute financial advice or endorsement.