Nokia has announced a new agreement with Apple, granting the tech giant access to some of Nokia’s essential mobile technology patents, with a focus on 5G technology. The details of the agreement remain undisclosed, but both companies have expressed their satisfaction with the deal in a joint press release.
The agreement will replace the current license between the two companies, which is set to expire at the end of 2023. The new agreement signifies a long-term commitment between Nokia and Apple, ensuring the continued use of Nokia’s patents by Apple.
Jenni Lukander, President of Nokia Technologies, expressed her delight regarding the agreement, emphasizing the strength of Nokia’s patent portfolio and its extensive investments in research and development. Nokia’s patent portfolio consists of over 5,500 patent families that are declared essential to 5G technology. With a total of more than 20,000 patent families, Nokia has been actively building its portfolio since 2000, making significant investments of over €140 billion.
Nokia expects to begin receiving revenue from the new agreement starting in January 2024. The company also highlighted its commitment to contributing its inventions to open standards, allowing companies to license and use these technologies without the need for their own substantial investments. This approach aims to fuel innovation and the development of new products and services for consumers.
While Nokia was once a dominant force in the mobile phone industry, its market position declined with the rise of iOS and Android ecosystems. Despite manufacturing noteworthy phones, Nokia’s market share is considerably smaller today compared to its heyday in the 2000s when iconic models like the Nokia 3310 sold over 120 million units. Nevertheless, Nokia’s patent portfolio and focus on emerging technologies like 5G position the company for continued relevance and collaboration with industry leaders like Apple.
