Apple and Nokia on Tuesday announced that they’ve amicably settled all litigation relating to intellectual property disputes and have installed a multi-year patent licensing agreement. Maria Varsellona, Chief Legal Officer at Nokia, described it as a meaningful agreement between the former adversaries.
As per the agreement, Nokia will provide select network infrastructure product and services to Apple. Conversely, the Cupertino-based company will once again stock Nokia’s digital health products in its online and retail stores. The two companies also agreed to further explore how they can help each other in the digital health space.
What’s more, executives from both companies plan to hold regular summits to ensure their relationship remains peachy.
Details of the agreement are to remain confidential although the two did reveal that Nokia will receive an up-front cash payment from Apple. The Finnish company will also receive additional revenues (royalties) over the course of the agreement which should begin to show up on their earnings report in the second quarter of 2017, we’re told.
Although the latest spat between Apple and Nokia kicked off this past December, the two electronics makers have a long history of courtroom squabbles. The two sides locked horns in 2009 with regard to nearly a dozen iPhone patents. A year later, Nokia dragged the iPad into the dispute.
Jeff Williams, Apple’s chief operating officer, said they were pleased with today’s resolution and look forward to expanding their business relationship with Nokia.