Apple and Nokia Settle After Long Patent Battle

This image described by Apple, Nokia, Patent, Lawsuits, Legal, patent infringement, court, settlement, tech battles, tech rivalries, Snoopy and Woodstock Hug

Remember that patent infringement battle that Apple and Nokia were having for who knows how long? There were plenty of stories on it, like here, here and here. Well, it looks like the companies will be celebrating a happy ending.

So there was a big mess of a lawsuit going on between the companies over various patents. Now, they have settled. They get to kiss and makeup and neither will be suing the other anymore. Everyone is sorry and now they can get back to making phones and doing whatever it is they do.

These kinds of things always seem to end in settlements, so we can’t say we’re surprised. Hit the jump for the official statement from Nokia.

Apple payments to Nokia settle all litigation and have positive financial impact

Nokia Corporation
Stock exchange release
June 14, 2011 at 08:05 (CET +1)

Espoo, Finland – Nokia announced that it has signed a patent license agreement with Apple. The agreement will result in settlement of all patent litigation between the companies, including the withdrawal by Nokia and Apple of their respective complaints to the US International Trade Commission.

The financial structure of the agreement consists of a one-time payment payable by Apple and on-going royalties to be paid by Apple to Nokia for the term of the agreement.  The specific terms of the contract are confidential.

“We are very pleased to have Apple join the growing number of Nokia licensees,” said Stephen Elop, president and chief executive officer of Nokia. “This settlement demonstrates Nokia’s industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market.”

During the last two decades, Nokia has invested approximately EUR 43 billion in research and development and built one of the wireless industry’s strongest and broadest IPR portfolios, with over 10,000 patent families.  Nokia is a world leader in the development of handheld device and mobile communications technologies, which is also demonstrated by Nokia’s strong patent position.

This agreement is expected to have a positive financial impact on Nokia’s recently revised outlook for the second quarter 2011 of around break-even non-IFRS operating margin for Devices & Services.

[Via Nokia]

About 8bitjay

Google + Profile