Nokia 5G Patent License Agreement with Vivo Marks Strategic Milestone
On the cusp of a new week, Nokia, the esteemed Finnish telecom equipment manufacturer, announced a momentous stride in its trajectory—a multi-year 5G patent license agreement inked with the esteemed Chinese smartphone entity, Vivo. The ensuing recognition of net sales arising from this collaborative endeavor is slated to commence in the inaugural quarter of 2024.
In a formal declaration articulated that this accord stands as a comprehensive resolution to all ongoing patent disputes between the involved parties, spanning diverse jurisdictions. The intricate details of this agreement, however, have been shrouded in confidentiality, adhering to a mutually agreed-upon stance.
This milestone marks the sixth substantial smartphone licensing agreement orchestrated within the preceding 13 months. These strategic alliances have been strategically forged with key industry players, including Apple, Samsung, OPPO, Honor, and Huawei. Nokia underscores that this agreement signifies the culmination of its comprehensive smartphone license renewal cycle.
In a noteworthy projection made last month, Nokia foresees its intellectual property licensing arm, Nokia Technologies, generating a minimum of 1.4 billion euros ($1.51 billion) in operating profit by the year 2024. This further solidifies strategic positioning in the evolving landscape of technology and intellectual property alliances.
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