Nokia, a provider of network infrastructure and 5G technologies, has inked a new long-term patent licence agreement with Apple to replace the present agreement, which is slated to expire at the end of 2023. The agreement, which allows Apple to use Nokia’s technology in its products, covers Nokia’s innovations in 5G and other technologies. The terms of the arrangement, which was disclosed late Friday, remain private.
Nokia intends to recognise revenue from the agreement beginning in January 2024, and the deal is consistent with the company’s long-term view stated in the first quarter. Apple and Nokia previously announced a licence arrangement in May 2017.
Nokia stated that its patent portfolio is based on more than 140 billion euros (USD 153 billion) in R&D investments since 2000, and it consists of about 20,000 patent families, including over 5,500 patent families designated as crucial to 5G. Nokia, situated in Espoo, Finland, is one of the world’s leading suppliers of 5G, the current generation of broadband technology, alongside Ericsson of Sweden, Huawei of China, and Samsung of South Korea.
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