Nokia has signed a new long-term patent licence agreement with Apple, as the current licence between the companies expires at the end of 2023.

While terms of the agreement remain confidential between the companies, it covers Nokia’s inventions in 5G and other technologies.

Nokia said the company expects to recognise revenue related to the agreement starting January 2024, and it is consistent with the company’s long-term outlook disclosed in the first quarter.

Nokia’s patent portfolio is built on more than €140-billion invested in research and development and is composed of around 20 000 patents, including over 5 500 declared essential to 5G, the Finnish company said.

“The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies,” said Jenni Lukander, president of Nokia Technologies. — Khushi Mandowara, (c) 2023 Reuters