Samsung, Nokia Ink New Multi-Year 5G Patent Deal

Nokia Corp NOK inked a new cross-license patent agreement with Samsung Electronics Co, Ltd SSNLF after the expiry of the previous deal at the end of 2022. The financial terms of the deal remain undisclosed.
Under the agreement, which covers Nokia's fundamental inventions in 5G and other technologies, Samsung will make payments to Nokia for a multi-year period beginning 1 January 2023.
Also Read: Inflation Hits South Korean Chip Production; Samsung Braces To Win Market Share Capitalizing On Downturn
Jenni Lukander, President of Nokia Technologies, said: "Samsung is a leader in the smartphone industry, and we are delighted to have reached an amicable agreement with them. The agreement gives both companies the freedom to innovate and reflects the strength of Nokia's patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies."
Nokia's patent portfolio is built over €130 billion invested in R&D since 2000.
In October 2022, Nokia reported a third-quarter FY22 net sales growth of 16% year-on-year (6% in constant currency) to €6.24 billion.
Network Infrastructure sales grew 5% Y/Y in CC. Cloud and Network Services sales declined 3% Y/Y in CC, while Nokia Tech declined 19% Y/Y, affected by expired licenses.
Also Read: Samsung Sees Q4 Profit Plunge 69% As Pandemic Correction And Macro Headwinds Weigh
Price Action: NOK shares traded higher by 0.87% at $4.65 in the premarket on the last check Monday.
Photo Via Wikimedia Commons

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