Apple, Nokia settle patent dispute with licensing agreement
By Aayush Arya
Nokia on Tuesday announced that it had reached a settlement with Apple on the two companies’ patent licensing dispute. Under the terms of the settlement, Apple is required to make a one-time payment to Nokia, followed by ongoing royalties to be paid for the term of the agreement.
The sum of these payments and the nature of the non-financial aspects of the contract have not be disclosed by either company. Both Nokia and Apple have agreed to withdraw their respective complaints to the U.S. International Trade Commission.
In a press release put out by the company, Nokia CEO and president Stephen Elop said, “We are very pleased to have Apple join the growing number of Nokia licensees. This settlement demonstrates Nokia’s industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market.”
Apple spokesman Alan Hely said the company is happy the dispute with Nokia is over, and that they can now get back to focusing on their respective businesses.
“Apple and Nokia have agreed to drop all of our current lawsuits and enter into a license covering some of each others’ patents, but not the majority of the innovations that make the iPhone unique,” Hely said.