Nokia recently informed Apple that it has entered into a new long-term patent license deal. The present license agreement, which was signed in May 2017 and is set to expire at the end of 2023, is replaced by the new arrangement. Nokia stated that it will receive payments from Apple over a number of years and anticipates beginning to generate revenue in connection with this new arrangement in January 2024. It further stated that the anticipated revenue was in line with the company’s long-term outlook, which was released in the first quarter. According to reports, Apple paid Nokia cash up front and continued to pay Nokia throughout the duration of the contract.
The New Patent License Contract Includes
Although the specifics of the deal are kept between the two parties, it is said to involve Nokia’s innovations in the field of 5G and other technologies. “We are pleased to have reached an agreeable deal with Apple to license long-term patents. According to Jenni Lukander, president of Nokia Technologies, the agreement “reflect[s] the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies.”
According to the business, Nokia’s patent portfolio, which it claims to have developed since 2000 using more than 140 billion euros ($152.70 billion) invested in R&D, consists of almost 20,000 patents in various nations, including more than 5,500 that have been deemed crucial to 5G connection. They must be licensed on fair, reasonable, and non-discriminatory (FRAND) conditions since they are essential patents.
Apple Will Soon Reach a $3 Trillion Market Cap.
According to CNBC’s most current share count, Apple’s shares increased by around 2.31% to a new high and crossed the $190.73 price necessary to reach the milestone, which caused the company’s market cap to surpass $3 trillion for the first time ever last week. In January 2022, the maker of the iPhone became the first firm to reach a $3 trillion market cap during intraday trading, but it was unable to hold that position until the market closed.
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