Apple and Nokia renew their patent license agreement, encompassing 5G and other technologies.
Nokia, a leading provider of network infrastructure and 5G technology, has entered into a new long-term patent license agreement with Apple. This agreement will replace the current deal between the two companies, which is set to expire by the end of 2023.
The newly signed agreement allows Apple to utilize Nokia’s technology in its products, particularly in the areas of 5G and other related technologies. The specific terms of the agreement were not disclosed, as they remain confidential.
Nokia anticipates recognizing revenue from this agreement starting in January 2024. The company stated that the deal aligns with its long-term outlook, as disclosed in the first quarter of the year.
Jenni Lukander, the President of Nokia Technologies, emphasized that the agreement showcases the strength of Nokia’s patent portfolio, which is the result of substantial investments in research and development over the years, as well as its contributions to cellular standards and other technologies.
The previous license agreement between Apple and Nokia was announced back in May 2017. Nokia’s extensive patent portfolio is built upon a significant investment of over €140 billion ($153 billion) in research and development since 2000. It consists of approximately 20,000 patent families, including more than 5,500 patent families that are essential to 5G technology.
Based in Espoo, Finland, Nokia is one of the leading suppliers of 5G technology worldwide. Alongside Ericsson from Sweden, Huawei from China, and Samsung from South Korea, Nokia plays a crucial role in the development and deployment of the latest generation of broadband technology.
