Apple Settles Up Wireless Patent Dispute With Nokia, Agrees To Pay $2 Billion In Cash

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Apple is known for having a lot of patent disputes with a few manufacturers and the one which is popularly known to most is the Apple-Nokia patent war. A few months back, Nokia announced that it reached a patent-licensing and collaboration agreement with Apple. Both the companies, i.e. Nokia and Apple settled all litigation and apparently Apple agreed to pay an amount for the same.

And now according to the new reports which we have, it looks like Apple agreed to pay approximately $2 billion. The same was mentioned in Nokia’s financial results. It was mentioned that Nokia had increased cash inflow that too, an “upfront cash payment of approximately EUR 1.7 billion part of which was recognized in the second quarter 2017 results.” At that time, Nokia reported that the same will be reflected its capital structure optimization program.

Upon contacting Nokia regarding this, the company confirmed the same and it has been reported that more details will be revealed the investor webcast. Hence, it is safe to say that Nokia in fact, scored a decent amount in return. Apparently, the Cupertino tech giant agreed to pay up-front 2 billion dollars. It has also been reported that a some of this amount was already paid in Q2. Now, Apple will continue to pay royalties and at the same time, the rest of the amount will also be cleared.

If you are wondering about the details of this particular deal, both the companies have come to an agreement that Apple will continue selling Nokia health products (formerly Withings) and they will also collaborate with Nokia in future health-related projects. It looks like Nokia will also sell Apple some network gear and services. At the time of the agreement, the exact numbers were not known, however, the same has now been confirmed. Having said that, let us know your thoughts on this by leaving a comment down below.

Source – Nokiamob

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