June 14, 2011 8:10am
Nokia and Apple have been battling it out for market share, and also in the courts over accused patent infringements. One of the cases stem back to 2009 with Nokia suing Apple over the iPhone infringing on Nokia patents for GSM, UMTS and wireless LAN (WLAN) standards. Nokia stated then that Apple is “attempting to get a free ride on the back of Nokia’s innovation”.
Nokia has apparently spent over EUR 43 billion and has a collection of 10,000 patents. Today a press release went out stating the two companies have signed a patent license agreement, which results in a settlement of all patent litigation issues. No dollar amounts were released but they did note that Apple must hand over a one-time payment and on-going royalties to Nokia.
This changes everything. Steve Jobs probably isn’t the happiest CEO today, but Nokia’s CEO Stephen Elop is. “We are very pleased to have Apple join the growing number of Nokia licensees. This settlement demonstrates Nokia’s industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market.”