HELSINKI (AP) – Network infrastructure and 5G technology provider Nokia has signed a new long-term patent license agreement with Apple to replace the current deal between the two companies, which expires at the end of 2023.
The deal, which allows Apple to use the Finnish company’s technology in its products, covers Nokia’s inventions in 5G and other technologies. The terms of the agreement, announced late Friday, remain confidential.
Nokia expects to begin generating revenue related to the agreement in January 2024, and the company said the agreement is consistent with its long-term guidance released in the first quarter.
“The agreement reflects the strength of Nokia’s patent portfolio, decades of investment in research and development, and contributions to wireless standards and other technologies,” Jenni Lukander, president of Nokia Technologies, said in a statement.
The previous license agreement between Apple and Nokia was announced in May 2017.
Nokia said its patent portfolio is based on more than 140 billion euros ($153 billion) invested in research and development since 2000 and is made up of around 20,000 patent families, including over 5,500 patent families declared essential to 5G became.
Nokia, based in Espoo, Finland, is one of the world’s most important providers of 5G, the latest generation of broadband technology, alongside Ericsson from Sweden, Huawei from China and Samsung from South Korea.