Nokia says it’s signed a new patent cross-license agreement with Apple that will replace the current license that’s due to expire at the end of 2023. 

The terms of the agreement remain confidential between the parties, which have been both friends and frenemies over the years.

“We are delighted to have concluded a long-term patent license agreement with Apple on an amicable basis,” says Jenni Lukander, president of Nokia Technologies. “The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies.”

Nokia expects to recognize the revenue related to this new patent license agreement starting in January 2024. The agreement is consistent with the assumptions Nokia has disclosed in the commentary with respect to Nokia Technologies long-term outlook in its Financial Report for quarter one that was issued on April 20, 2023.

Article provided with permission from AppleWorld.Today