Top Stories
Nokia signs 5G patent deal with China’s Vivo
Global Banking & Finance Review®
Company
HELSINKI (Reuters) -Finnish telecom equipment maker Nokia said on Monday it has signed a multi-year 5G patent license agreement with Chinese smartphone vendor Vivo and will begin recognising net sales from the deal in the first quarter of 2024.
HELSINKI (Reuters) -Finnish telecom equipment maker Nokia said on Monday it has signed a multi-year 5G patent license agreement with Chinese smartphone vendor Vivo and will begin recognising net sales from the deal in the first quarter of 2024.
“The agreement resolves all pending patent litigation between the parties, in all jurisdictions. The terms of the agreement remain confidential as agreed between the parties,” Nokia said in a statement.
It was Nokia’s 6th major smartphone licensing agreement in the past 13 months and follows deals with Apple, Samsung, OPPO, Honor, and Huawei.
“Nokia has now almost completed its smartphone license renewal cycle,” the company said.
The group last month said it expected Nokia Technologies, its intellectual property licensing business, to generate at least 1.4 billion euros ($1.51 billion) of operating profit in 2024.
($1 = 0.9276 euros)
(Reporting by Anne Kauranen, writing by Terje Solsvik, editing by Stine Jacobsen)
A patent is a legal right granted to an inventor or assignee for a fixed period, giving them exclusive rights to make, use, or sell an invention.
5G technology is the fifth generation of mobile network technology, offering faster speeds, lower latency, and the ability to connect more devices simultaneously compared to previous generations.
Net sales refer to the total revenue from sales of goods or services, minus returns, allowances, and discounts.
Intellectual property refers to creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce.
Explore more articles in the Top Stories category
