Nokia Signs New 5G Patent Deal With Samsung
Following the termination of an earlier arrangement at the end of 2022, Nokia said today that it has entered into a new cross-license patent deal with Samsung. “Under the agreement, which covers Nokia’s fundamental inventions in 5G and other technologies, Samsung will make payments to Nokia for a multi-year period beginning 1 January 2023,” the Finnish company said. Furthermore, the parties agree to keep the terms of the contract confidential.
Since Nokia stopped developing phones and began concentrating on networking equipment and intellectual property, licensing has become more significant at the company over the past ten years. It still mainly relies on royalties from its ideas that are applied to the global smartphone market, but in recent years it has started to diversify its sources of income from intellectual property, such as charging automakers for the use of its products.
Jenni Lukander, President of Nokia Technologies, said, “Samsung is a leader in the smartphone industry, and we are delighted to have reached an amicable agreement with them. The agreement gives both companies the freedom to innovate, and reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies.”