Oppo, Nokia Resolve All Pending Patent Disputes via Cross Licencing Deal


Finnish telecom gear maker Nokia said on Wednesday it had signed a 5G patent cross-licencing deal with Chinese device maker Oppo that resolves patent litigation between the companies.

Nokia has been involved in legal disputes with several Chinese tech firms, including Oppo and Vivo, over patent payments. The Finnish group recently signed an agreement with Chinese smartphone maker Honor.

“Under the agreement Oppo will make royalty payments, along with catch-up payments to cover the periods of non-payment,” Nokia said in a statement. “The agreement resolves all pending patent litigation between the parties, in all jurisdictions.”

OP Corporate Bank analyst Kimmo Stenvall said investors had expected the parties to reach an agreement “sooner or later”.

Nokia’ shares were roughly flat at 1049 GMT (4:19pm IST).

Inderes analyst Atte Riikola said it was good uncertainty was now lifted about the timing of the deal, after the process had taken longer than expected.

Nokia in December warned it would not meet its financial outlook for 2023, saying talks over unspecified licence renewals would continue into this year.

Riikola said he expected Nokia to soon reach an agreement also with Vivo.

© Thomson Reuters 2024


Affiliate links may be automatically generated – see our ethics statement for details.



View Original Source Here

You May Also Like

Investing app Acorns acquires kid-focused fintech GoHenry to expand in Europe

Noah Kerner, CEO of Acorns. Adam Jeffery | CNBC LONDON — American…

New poll shows voters favor tech regulation, but rank it a low priority

Amazon CEO Jeff Bezos speaks via video conference during a hearing of…

Apple’s full-size iPhone 12 costs at least $100 more than last year’s iPhone 11

Apple CEO Tim Cook reveals the new iPhone 12. Source Apple announced…

Google workers in U.S. won’t return to office as expected on Jan. 10

In this article GOOGL Google CEO Sundar Pichai speaks during the Google…