If you’ve been following the patent war between Nokia and Apple that has been going on for quite some time now, the dust has cleared and the two companies have decided to settle the patent litigations between them. Both Nokia and Apple have withdrawn all their respective complaints they made to the US International Trade Commission.
It looks like Nokia have emerged as the victors in this battle, getting a one-time fee and on-going royalties from Apple. With the success of Apple’s products, I foresee a lot of money headed towards Nokia in the near future, and for years to come. From the press release:
The financial structure of the agreement consists of a one-time payment payable by Apple and on-going royalties to be paid by Apple to Nokia for the term of the agreement. The specific terms of the contract are confidential.
“We are very pleased to have Apple join the growing number of Nokia licensees,” said Stephen Elop, president and chief executive officer of Nokia. “This settlement demonstrates Nokia’s industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market.”
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