Source: NDTV

Recently, Nokia – the Finland-based company – and Apple – the Cupertino-based smartphone maker announced that they have settled all litigation related to their intellectual property dispute. Further, the two smartphone making giants agreed a multi-year patent license.

A meaningful agreement between Nokia and Apple: Nokia

Maria Varsellona, the Chief Legal Officer at Nokia who is responsible for the patent licensing business of the Finnish smartphone making company, said that this is a meaningful agreement between Nokia and Apple. Varsellona further said, “It moves our relationship with Apple from being adversaries in court to business partners working for the benefit of our customers.”

The Finnish smartphone maker will, under a business collaboration agreement, be providing certain network infrastructure product and services to the Silicon Valley giant. The smartphone making giant will continue carrying Nokia digital health products in its retail and online stores. The digital health products of Nokia were formerly under the Withings brand. In addition to all this, the Finland-based smartphone maker and the Cupertino-based smartphone maker are exploring future collaboration in digital health initiatives.

Jeff Williams, the chief operating officer of the tech giant, said “We are pleased with this resolution of our dispute and we look forward to expanding our business relationship with Nokia.”

Nokia to receive an up-front cash payment from Apple

The details in respect to the agreement are still kept confidential but according to Apple’s press release, “Nokia will receive an up-front cash payment from Apple, with additional revenues during the term of the agreement.” Regular summits between the top executives from the Silicon Valley giant and the Cupertino-based smartphone maker will ensure that the relationship between the two companies works effectively and to the benefit of both their customers and parties.

Basil Alwan, President of Nokia’s IP/Optical Networks business, said that this agreement with the tech giant will strengthen their collaboration. Alwan added that they are looking forward to support the iPhone making giant. Apple’s Press release notes, “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.”

In another news related to Apple, the Cupertino-based smartphone making giant has begun selling iPhones at select stores in India. The phones being sold were also assembled in India as part of its trial run. An industry source told PTI, “Apple is selling iPhone SE in India at select stores.” On the box, the picture showed the price of Rs 27,200 inclusive of all taxes for the iPhone SE.