- Nokia Oyj (NYSE: NOK) inked an agreement with Samsung Electronics Co Ltd (OTC: SSNLF) to license patents covering its innovations in video standards, Reuters reports.
- The financial terms of the agreement were not disclosed. However, Samsung will make royalty payments to Nokia under the arrangement.
- According to Reuters, Nokia’s patent portfolio comprises 20,000 patent families, including over 3,500 declared essential to 5G.
- The deal is preceded by rival Telefonaktiebolaget LM Ericsson’s (NASDAQ: ERIC) U.S. lawsuit against Samsung over alleged royalty payments and patent licenses.
- The U.S. International Trade Commission intends to launch an investigation after Ericsson alleged 4G and 5G patent infringement by Samsung.
- Price action: NOK shares are up 3.28% at $4.09 in the pre-market session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
