Network infrastructure and 5G technology provider Nokia has recently announced a new long-term patent license agreement with Apple. This agreement will replace their current deal, which is set to expire at the end of 2023. The new agreement allows Apple to continue using Nokia’s technology in their products, specifically in the areas of 5G and other technologies. The terms of the agreement, which was announced late on Friday, have not been disclosed and will remain confidential.
Positive Revenue Outlook for Nokia
Starting in January 2024, Nokia expects to recognize revenue from this new agreement. The company stated that this deal is in line with their long-term outlook, which was disclosed in the first quarter. Nokia’s President of Nokia Technologies, Jenni Lukander, emphasized that this agreement is a testament to the strength of Nokia’s patent portfolio, as well as their extensive investments in research and development and their contributions to cellular standards and other technologies.
Previous License Agreement and Nokia’s Patent Portfolio
The previous license agreement between Apple and Nokia was announced in May 2017. Nokia’s patent portfolio is built on over €140 billion ($153 billion) invested in research and development since 2000. It consists of approximately 20,000 patent families, with over 5,500 patent families being declared essential to 5G. This vast portfolio showcases Nokia’s commitment to innovation and its position as one of the world’s leading suppliers of 5G technology, alongside Ericsson, Huawei, and Samsung.
The Global Landscape of 5G Suppliers
Nokia, headquartered in Espoo, Finland, is a major player in the 5G industry. Alongside Ericsson, Huawei, and Samsung, Nokia is at the forefront of supplying the latest generation of broadband technology. With the increasing demand for 5G capabilities, these companies play a crucial role in shaping the future of global connectivity.
In summary, Apple and Nokia have signed a new patent license agreement to replace their existing deal. This agreement allows Apple to continue utilizing Nokia’s technology in their products, specifically in the areas of 5G and other technologies. Nokia is confident about the revenue potential of this agreement, which is expected to commence in January 2024. With its extensive patent portfolio and contributions to cellular standards, Nokia solidifies its position as a key player in the 5G market alongside other major technology suppliers.
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