For the past few years now, Nokia and Samsung have been engaged in a patent dispute. However unlike the dispute that Samsung is having with Apple, that has yet to be resolved, the dispute between Nokia and Samsung has finally come to an end, according to a recent report by Reuters.Not only will this end the legal battle between both companies, but it also seems that the settlement that Nokia will be getting out of this will be a welcome boost to its revenue. It is also expected to lift sales at its patent unit to around $1.1 billion. According to Ramzi Haidamus, the head of Nokia Technologies, “The use of independent arbitration to resolve differences in patent cases is a recognized best practice, and we welcome the additional compensation payable to Nokia under the extended agreement.”
In addition to the money its received, Nokia is also expected to receive an additional $1.3 billion Euros worth of cash from their 2016-2018 settled and ongoing arbitrations. It has also been noted in the report that while Samsung might have settled their dispute with Nokia, it seems that Samsung’s Korean rival LG is still embroiled in a similar dispute with Nokia that they have yet to resolve.
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