Chinese consumer electronics giant Xiaomi has decided to buy Nokia patents. This isn’t the first time that the company is spending money to buy patents. It has only been a year since it bought 1,500 patents from Microsoft. The deal with Nokia is wide-ranging and covers areas like patent licensing and network equipment as well.

Nokia and Xiaomi now have a cross-licensing deal that covers cellular standard essential tents. An unspecified number of patents have also been purchased by Xiaomi from Nokia. The Finnish company is now going to provide network equipment to Xiaomi and the two companies will also work on building IP transport solutions.

The companies have also said that they are looking to improve cooperation in other fields as well, including but not limited to artificial intelligence, virtual and augmented reality as well as the Internet of Things.

No further details about the deal have been provided by either Nokia and Xiaomi. So it’s unclear how many patents have been purchased by the Chinese company and what financial terms are involved in this transaction.

It’s also not clear if the patents that Xiaomi has purchased now are related to the 1,500 patents that Xiaomi purchased from Microsoft. You may remember that Microsoft had acquired Nokia’s smartphone business and the two companies were very close for a considerable period of time.

Filed in General. Read more about and . Source: nokia