Nokia (NOKIA.HE) announced a new long-term patent license arrangement with Apple (AAPL.O), whose current license expires in 2023.
The agreement covers Nokia’s 5G and other inventions.
Nokia expects to start recognizing revenue from the deal in January 2024, keeping with its long-term outlook from the first quarter.
Nokia stated its patent portfolio includes over 5,500 5G-essential patents and was built on 140 billion euros ($152.70 billion) in research and development.
“The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies,” said Nokia Technologies president Jenni Lukander.