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Nokia adds Huawei to its big list of Patent Licensees. Signs royalty-bearing patent licensing agreement

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Nokia has added yet another big smartphone manufacturer to its growing list of Patent Licensees. Huawei has agreed to enter into a multi-year patent licensing agreement with Nokia. This agreement will result in a non-recurring catch-up payment, with steady royalty payments expected during the term of the agreement to Nokia.

In recent times Nokia has signed royalty-bearing licensing agreements with likes of Samsung, Xiaomi, Apple, LG, and Blackberry. You can check our full coverage of Nokia’s patent licensing news here.

As expected Nokia has not disclosed the revenue expected from this deal and will disclose the same in its quarterly financial reports starting Q4 2017. Read the full press release below.

Nokia and Huawei sign patent license agreement 

Espoo, Finland – Nokia today announced that it has signed a multi-year patent license agreement with Huawei. 

“Huawei is one of China’s largest companies and is among the world’s leading smartphone manufacturers and we are delighted to welcome them to our family of patent licensees,” said Maria Varsellona, chief legal officer at Nokia.

While details of the license agreement remain confidential, Nokia will follow its existing practices for disclosing patent licensing revenue in its quarterly financial reports and expects that revenue for the agreement will begin to be recognized in the fourth quarter of 2017, including an element of non-recurring catch-up revenue, with additional revenues expected during the term of the agreement.

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Nayan
Nayan has more than 10 years of experience of covering Technology and innovations. He is a big Nokia fan and Tech disruptions aficionado. He loves to review new cool gadgets and writing about Android, iOS, Gadgets and general Technology stuff. He has been associated with other well-known Tech sites WinCentral and GadgetOx since long.He currently sports a Lumia 950 XL and Nexus 5X. Other interests include listening to Nu-Metal Hits and Kick-Boxing. Write to him at Email: [email protected]
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