Nokia Corp (NYSE: NOK) has signed a new cross-license patent agreement with Samsung Electronics Co, Ltd (OTC: SSNLF), following the expiration of their previous agreement at the end of 2022.
The financial terms of the new deal have not been disclosed.
The agreement encompasses Nokia’s key patents in 5G and other technologies, and Samsung will make payments to Nokia for a multi-year period starting January 1, 2023.
Jenni Lukander, President of Nokia Technologies, remarked, “Samsung is a leader in the smartphone industry, and we are delighted to have reached an amicable agreement with them.
The agreement gives both companies the freedom to innovate and reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies.”
Nokia’s patent portfolio has been developed through over €130 billion invested in R&D since 2000.
In October 2022, Nokia reported a 16% year-on-year increase in net sales for the third quarter of FY22 (6% in constant currency), reaching €6.24 billion.
Sales in Network Infrastructure grew by 5% year-on-year in constant currency. However, Cloud and Network Services sales fell by 3% year-on-year in constant currency, and Nokia Tech saw a decline of 19% year-on-year, impacted by expired licenses.
On the last check Monday, NOK shares were up 0.87% at $4.65 in premarket trading.
