In a significant development for the tech industry, network infrastructure and 5G technology provider Nokia has announced the renewal of its patent license agreement with Apple. This long-term agreement replaces the previous deal between the two companies, which was set to expire at the end of 2023.
While the exact terms of the agreement between Nokia and Apple have not been publicly disclosed, both companies are optimistic about the potential it holds for their future endeavours. Nokia expects to recognise revenue related to this agreement beginning in January 2024. This renewed collaboration aligns with Nokia’s long-term outlook, as previously disclosed in the first quarter. By maintaining confidentiality, both companies can focus on their respective goals while safeguarding their intellectual property.
Nokia’s patent portfolio, which has been meticulously built upon over the years, has played a vital role in securing this agreement with Apple. With over €140 billion ($153 billion) invested in research and development since 2000, Nokia’s extensive portfolio comprises approximately 20,000 patent families. Notably, more than 5,500 of these families are declared essential to 5G technology. This impressive foundation, combined with Nokia’s substantial contributions to cellular standards and other technological advancements, underscores the strength of the company’s patent portfolio.
The recently renewed patent license agreement allows Apple to leverage Nokia’s cutting-edge technologies, particularly in the realm of 5G. As one of the world’s primary suppliers of 5G infrastructure, Nokia’s contributions have been instrumental in the development and deployment of this groundbreaking technology. By accessing Nokia’s patents, Apple can integrate these advancements into its own product ecosystem, ensuring enhanced capabilities and improved user experiences for Apple device users.
“The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies,” Nokia Technologies President Jenni Lukander said in a statement.
