Nokia has recently announced the signing of a new long-term patent license agreement with Apple, replacing the existing agreement that was set to expire in 2023. Under this new deal, Nokia will receive payments from Apple over a multi-year period, with the revenue recognition expected to begin in January 2024. The financial terms of the agreement have not been disclosed, but it is believed to cover Nokia’s patented technologies in areas such as 5G and other relevant technologies. The agreement has been reached in an amicable manner, highlighting the strength of Nokia’s patent portfolio and its substantial investments in research and development. Jenni Lukander, President of Nokia Technologies, expressed satisfaction with the agreement and emphasized Nokia’s contributions to cellular standards and technological advancements.
Nokia’s impressive patent portfolio, which has been built over the years with substantial investments in research and development, is estimated to be worth more than 140 billion euros ($152.70 billion). It consists of around 20,000 patents in various countries, including over 5,500 that are deemed essential for 5G connectivity. These essential patents are subject to fair, reasonable, and non-discriminatory (FRAND) licensing terms.
In other news, Apple recently achieved a significant milestone by surpassing a market capitalization of $3 trillion. Last week, the company’s shares climbed approximately 2.31%, reaching a new high and exceeding the price of $190.73 required to reach the $3 trillion mark. While Apple initially reached a $3 trillion market cap during intraday trading in January 2022, it did not close at that level. This achievement further solidifies Apple’s position as one of the most valuable companies in the world.
