Nokia has announced that both Nokia and Samsung have agreed to expand their patent license deal to cover certain additional patent portfolios of both the companies. Back in 2013 both the companies extended their patent license deal for five more years.
“This agreement is in addition to the outcome of the arbitration between the two companies that was announced back in February this year,” said Nokia. There are no details yet on how much the deal is worth.
With this expansion, Nokia Technologies expects a positive impact to the net sales of Nokia Technologies starting from the third quarter of 2016 and it expects its annualized net sales related to patent and brand licensing to grow to a rate of approximately EUR 950 million by the end of 2016.
Regarding the deal, Ramzi Haidamus, president of Nokia Technologies, said:
With intellectual property portfolios from Nokia Technologies, Nokia Networks and Alcatel-Lucent, Nokia has a wealth of technologies relevant to mobile devices and beyond. We welcome this expanded agreement with Samsung which recognizes the strength of our assets, and we continue to pursue new licensing opportunities across a number of diverse industries.