A PYMNTS Company

US: Nokia-Apple patent suit settled for US$2b

By  |  July 31, 2017

Apple just spent US$2 billion from its coffers to get out of a legal fiasco with Nokia. A patent lawsuit was brought in between Apple and Nokia back in May, this year. However, neither of the two behemoths revealed any details nor did they leave any comment regarding the value of the settlement. The only information that came into the light was that the Cupertino-based tech giant had to pay a significant amount of money to the Finnish brand to end the dispute.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Recently reports have surfaced, specifically from Nokiamob, which say that the tech giant has announced that it has received a US$2 billion cash payment from Apple. However, no further details have been disclosed regarding the settlement. Considering the fact that it was a non-recurring catch-up revenue, people are left to wonder how will Nokia spend all that cash.

    The recent lawsuit was the second high-profile patent fight between Nokia and Apple. It began last year when Nokia alleged that Apple has broken law on dozens of patents that Nokia owns including the patents from its subsidiaries, NSN and Alcatel-Lucent. Due to Nokia’s position and background in the phone market, a lot of smartphone makers had purchased the rights to the company’s patents for almost everything. Apple, in particular, has been relying on Nokia’s patents since the iPhone 3GS, which included, video coding, display, chipsets, UI, software, and antenna.

    Apple and Nokia have had a licensing deal since 2011, but the former accused that the latter was seeking undue advantages, which led to their refusal to sign a new deal.

    Full Content: Economic Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.