Nokia Corporation Stock Exchange Release September 18, 2017 at
09:00 (CET +1)
Nokia receives decision in patent license arbitration with LG
Electronics
Espoo, Finland - The International Court of Arbitration of the
International Chamber of Commerce has issued its award for the
binding arbitration between Nokia and LG Electronics. The companies
had previously agreed that this would settle the royalty payment
obligations for the royalty-bearing smartphone patent license from
Nokia Technologies announced in June 2015.
While details of the arbitration award and license agreement
remain confidential, Nokia will follow its existing practices for
disclosing patent licensing revenue in its quarterly announcements
and expects that revenue for the agreement will be recognized in
the third quarter of 2017, including an element of non-recurring
catch-up revenue, with additional revenues expected during the term
of the agreement.
"The use of independent arbitration to resolve differences in
patent cases is a recognized best practice. We believe that this
award confirms the quality of Nokia's patent portfolio," said Maria
Varsellona, chief legal officer at Nokia. "We continue to see
potential for additional licensing opportunities in the mobile
communications market and beyond."
About NokiaWe create the technology to connect the world.
Powered by the research and innovation of Nokia Bell Labs, we serve
communications service providers, governments, large enterprises
and consumers, with the industry's most complete, end-to-end
portfolio of products, services and licensing.
From the enabling infrastructure for 5G and the Internet of
Things, to emerging applications in virtual reality and digital
health, we are shaping the future of technology to transform the
human experience. www.nokia.com
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information currently available to it. Because they involve risks
and uncertainties, actual results may differ materially from the
results that we currently expect. Factors, including risks and
uncertainties that could cause these differences include, but are
not limited to: 1) our ability to execute our strategy, sustain or
improve the operational and financial performance of our business
and correctly identify and successfully pursue business
opportunities or growth; 2) our ability to achieve the anticipated
benefits, synergies, cost savings and efficiencies of the
acquisition of Alcatel-Lucent, and our ability to implement our
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or after the acquisition of Alcatel-Lucent; 8) our dependence on a
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exchange rate fluctuations, as well as hedging activities; 10)
Nokia Technologies' ability to protect its IPR and to maintain and
establish new sources of patent licensing income and IPR-related
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our reliance on third-party solutions for data storage and service
distribution, which expose us to risks relating to security,
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profitability through licensing of the Nokia brand, particularly in
digital media and digital health, and the development and sales of
products and services, as well as other business ventures which may
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to optimize our capital structure as planned and re-establish our
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undersea infrastructure, as well as the risk factors specified on
pages 67 to 85 of our 2016 annual report on Form 20-F under
"Operating and financial review and prospects-Risk factors" and in
our other filings with the U.S. Securities and Exchange Commission.
Other unknown or unpredictable factors or underlying assumptions
subsequently proven to be incorrect could cause actual results to
differ materially from those in the forward-looking statements. We
do not undertake any obligation to publicly update or revise
forward-looking statements, whether as a result of new information,
future events or otherwise, except to the extent legally
required.
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