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

Elon Musk says Tesla’s latest beta self-driving software is ‘not great’

Tesla CEO Elon Musk gestures as he visits the construction site of…

Sonos stock drops on report that Apple is purging third-party audio products from its stores

Source: Sonos Sonos stock fell more than 2% in extended trading after…

Apple claimed it had less than 20 million TV+ subscribers in July, showbiz union says

In this article AAPL Tim Cook, chief executive officer of Apple Inc.,…

China’s Baidu claims its Ernie Bot beats ChatGPT on key tests as A.I. race heats up

In this article BIDU Follow your favorite stocksCREATE FREE ACCOUNT Chinese technology…