Daily Management Review

Nokia signs new agreement with Samsung on 5G patents


Nokia and Samsung recently struck a new agreement with regard to the continued use of patents in the 5G area.

Public Domain Pictures
Public Domain Pictures
According to a press release from Nokia, the Finnish manufacturer of telecommunications equipment has reached an agreement with the South Korean company Samsung on the continued use of patents in the area of 5G and other technologies. The contract's value was not made public, but it is noted that the agreement will be in effect for a number of years.

The first 5G agreement between the Finnish firm and Samsung came to an end at the end of 2016.

"In accordance with the contract, which covers Nokia's basic innovations in 5G and other technologies, Samsung will pay Nokia over a number of years beginning in 2023. The parties' discussions regarding the parameters of the agreement are kept private," the statement reads.

The Finnish media also reports that Nokia has filed a lawsuit against Chinese smartphone manufacturers Oppo, One Plus, Realme, and Vivo because they did not renew their license agreements with the business.

source: globenewswire.com