Nokia, Daimler End Patent Licensing Feud

Nokia NOK inked a patent licensing agreement to license 3G and 4G mobile telecommunications technology to Daimler AG DMLRY for a fee.
They agreed to settle every pending lawsuit between them, including Daimler’s EC litigation. The agreement terms remain confidential.
The lawsuit could have led to the suspension of Daimler’s production and sales of its cars and trucks, Financial Times reports.
The lawsuit was triggered last year after Daimler refused to pay Nokia for patents used in its vehicles, Bloomberg reports.
Several German courts had prosecuted Daimler for refusing to buy licenses for the technology.
Daimler wanted its suppliers to buy the technology from Nokia, leading to lower fees for intellectual property use.
Nokia earns $1.7 billion in annual licensing revenues, Reuters reports.
Price action: NOK shares traded higher by 0.19% at $5.17 in the premarket session on the last check Tuesday.