Nokia signed a multi-year patent cross-license agreement under which vivo will make royalty payments to Nokia. The arrangement will make catch-up payments to cover the dispute period. The agreement resolves all pending patent litigation between the parties, in all jurisdictions. Financial terms were not disclosed.
Nokia said it will begin recognizing net sales from this agreement, including catch up payments covering the periods of non-payment, in Q1 2024. Nokia Technologies is progressing towards the conclusion of the smartphone licensing renewal cycle and is making good progress in its growth areas of automotive, consumer electronics, IoT and multimedia. It remains confident that its annual net sales run-rate will return to EUR 1.4 to 1.5 billion in the mid-term.
Jenni Lukander, President of Nokia Technologies, said: “This is the sixth major smartphone patent license agreement we have signed in the past thirteen months, and we have now almost completed our smartphone license renewal cycle. Together these licensing agreements demonstrate Nokia’s significant contribution to developing key technologies relied upon by the entire smartphone industry and they will provide long-term stability to our licensing business for years to come.” Lukander added: “We are delighted to have reached an agreement with vivo which reflects mutual respect for each other's intellectual property rights. vivo is one of the leading players in the global smartphone industry. We look forward to bringing more innovation to their users around the world through our collaboration.”
