Apple, Nokia Settle Patent Spat
Apple and Nokia are good chums again, after settling a legal dispute over the Finnish company’s patents.
Five months after they had sued each other over royalty payments in a joint statement, the companies revealed Apple will have to make a sizeable one-off payment, as well as future fees, for the use of Nokia’s technology.
Analysts have estimated that the deal could be worth hundreds of millions of pounds to Nokia, sending the company’s shares up by seven percent.
Nokia had suffered at the hands of the iPhone, and no longer makes handsets after selling its mobile business to Microsoft in 2013.
While most of its revenue comes from telecoms infrastructure, it is seeking to bolster income from the valuable patents it still retains from its days as the world’s dominant mobile phone company.