Nokia and Apple Sign Patent License & Business Cooperation Agreement, Settle All Litigation
May 23 2017 - 2:58AM
Business Wire
Nokia and Apple® announced today that they have settled all
litigation related to their intellectual property dispute and
agreed a multi-year patent license.
“This is a meaningful agreement between Nokia and Apple,” said
Maria Varsellona, Chief Legal Officer at Nokia, responsible for
Nokia’s patent licensing business. “It moves our relationship with
Apple from being adversaries in court to business partners working
for the benefit of our customers.”
Under a business collaboration agreement, Nokia will be
providing certain network infrastructure product and services to
Apple. Apple will resume carrying Nokia digital health products
(formerly under the Withings brand) in Apple retail and online
stores, and Apple and Nokia are exploring future collaboration in
digital health initiatives. Regular summits between top Nokia and
Apple executives will ensure that the relationship works
effectively and to the benefit of both parties and their
customers.
“We are pleased with this resolution of our dispute and we look
forward to expanding our business relationship with Nokia,” said
Jeff Williams, Apple's chief operating officer.
“This agreement will strengthen our collaboration,” said Basil
Alwan, President of Nokia’s IP/Optical Networks business. “We look
forward to supporting Apple. While details of the agreement remain
confidential, Nokia will receive an up-front cash payment from
Apple, with additional revenues during the term of the
agreement.
The value of the agreement will be reflected partially as patent
licensing net sales in Nokia Technologies and partially as net
sales in other Nokia business groups. Nokia will follow its
existing practices for disclosing patent licensing revenue in its
quarterly announcements and expects that revenues for the agreement
will start to be recognized in the second quarter of 2017,
including an element of non-recurring catch-up revenue.
Due to the up-front cash payment from Apple, Nokia intends to
provide a comprehensive update of its capital structure
optimization program in conjunction with its third quarter 2017
results.
Apple revolutionized personal technology with the introduction
of the Macintosh in 1984. Today, Apple leads the world in
innovation with iPhone, iPad, Mac, Apple Watch and Apple TV.
Apple’s four software platforms — iOS, macOS, watchOS and tvOS —
provide seamless experiences across all Apple devices and empower
people with breakthrough services including the App Store, Apple
Music, Apple Pay and iCloud. Apple’s more than 100,000 employees
are dedicated to making the best products on earth, and to leaving
the world better than we found it.
NOTE TO EDITORS: For additional information visit Apple’s PR
website (www.apple.com/pr), or call Apple’s Media Helpline at (408)
974-2042.
© 2017 Apple Inc. All rights reserved. Apple and the Apple logo
are trademarks of Apple. Other company and product names may be
trademarks of their respective owners.
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version on businesswire.com: http://www.businesswire.com/news/home/20170522006495/en/
AppleJosh Rosenstock, +1 408-862-1142jrosenstock@apple.comAlan
Hely, +44 (0)208 278 1440alanhely@apple.comorNokiaMark Durrant, +44
787 527 6867mark.durrant@nokia.com
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