Cupertino, California and Espoo, Finland —
Nokia and Apple announced today that they have settled all litigation
related to their intellectual property dispute and agreed a multi-year
patent license.
“This is a meaningful agreement
between Nokia and Apple,” said Maria Varsellona, Chief Legal Officer at
Nokia, responsible for Nokia’s patent licensing business. “It moves our
relationship with Apple from being adversaries in court to business
partners working for the benefit of our customers.”
Under a business collaboration
agreement, Nokia will be providing certain network
infrastructure product and services to Apple. Apple will resume carrying
Nokia digital health products (formerly under the Withings brand) in
Apple retail and online stores, and Apple and Nokia are exploring future
collaboration in digital health initiatives. Regular summits between
top Nokia and Apple executives will ensure that the relationship works
effectively and to the benefit of both parties and their customers.
“We are pleased with this
resolution of our dispute and we look forward to expanding our
business relationship with Nokia,” said Jeff Williams, Apple’s chief
operating officer.
“This agreement will strengthen
our collaboration,” said Basil Alwan, President of Nokia’s
IP/Optical Networks business. “We look forward to supporting Apple.”
While details of the agreement
remain confidential, Nokia will receive an up-front cash payment from
Apple, with additional revenues during the term of the agreement.
The value of the agreement will
be reflected partially as patent licensing net sales in
Nokia Technologies and partially as net sales in other Nokia business
groups. Nokia will follow its existing practices for disclosing patent
licensing revenue in its quarterly announcements and expects
that revenues for the agreement will start to be recognised in the
second quarter of 2017, including an element of non-recurring catch-up
revenue.
Due to the up-front cash payment
from Apple, Nokia intends to provide a comprehensive update of its
capital structure optimisation program in conjunction with its third
quarter 2017 results.
Apple revolutionised personal
technology with the introduction of the Macintosh in 1984. Today, Apple
leads the world in innovation with iPhone, iPad, Mac, Apple Watch and
Apple TV. Apple’s four software platforms — iOS, macOS, watchOS and tvOS
— provide seamless experiences across all Apple devices and empower
people with breakthrough services including the App Store, Apple Music,
Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated
to making the best products on earth, and to leaving the world better
than we found it.
Source:apple newsroom
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