Nokia Technologies has announced that LG Electronics has entered into a smartphone patent licensing agreement with them to pay royalties for smartphones LG sells. LG becomes the major smartphone manufacturer to join the licensing program since Nokia’s devices and services business were sold to Microsoft in April 2014.
Nokia Technologies has more than 60 licensees for 2G, 3G and 4G mobile communication technologies. HTC entered into a patent licensing agreement with Nokia in February last year to end a patent dispute.
The financial terms of the settlement remain under the wraps. The agreement is expected to conclude within a 1 to 2 year timeframe, said the company.
Commenting on the new patent licensing deal, Ramzi Haidamus, President of Nokia Technologies, said:
We are pleased to welcome LG Electronics to our licensing program. We’ve worked constructively with LG Electronics and agreed a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future.