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Finnish telecommunications equipment maker Nokia announced that it has signed a multi-year 5G patent license agreement with Chinese smartphone supplier Vivo. The agreement resolves the parties’ patent litigation in various jurisdictions, and the terms of the agreement will remain confidential.
This is Nokia’s sixth licensing agreement with a major smartphone brand in the last 13 months, following agreements with Apple, Samsung, OPPO, Honor and Huawei.
Nokia said its smartphone license renewal cycle is almost complete, and expects its IP licensing business to generate at least €1.4 billion in operating profit in 2024.
(Source: Reuters Image source: Unsplash)
