TIDMNOKIA
Nokia Corporation
Inside Information
24 January 2024 at 09:00 EET
Inside Information: Nokia signs 5G patent cross-license
agreement with OPPO
-- License covers Nokia's fundamental inventions in cellular technologies
-- Nokia to receive payments from OPPO for a multi-year period along with
catch-up payments to cover non-payment during the dispute period
-- The agreement resolves all pending patent litigation between the parties
Espoo, Finland -- Nokia today announced it has signed a
multi-year patent cross-license agreement with OPPO. Under the
agreement OPPO will make royalty payments, along with catch-up
payments to cover the periods of non-payment. The agreement
resolves all pending patent litigation between the parties, in all
jurisdictions. The terms of the agreement remain confidential as
agreed between the parties.
Jenni Lukander, President of Nokia Technologies, said: "We are
delighted to have reached a cross-license agreement with OPPO that
reflects the mutual respect for each other's intellectual property
and Nokia's investments in R&D and contributions to open
standards. OPPO is one of the leading companies in the global
smartphone market and we look forward to working together to bring
further innovation to their users around the world. The new
agreement - along with the other major smartphone agreements we
have concluded over the past year - will provide long-term
financial stability to our licensing business."
Feng Ying, OPPO's Chief Intellectual Property Officer, stated:
"We are pleased to have reached this global patent cross-license
agreement with Nokia, which includes cross-licensing for 5G
standard-essential patents. This agreement reflects the mutual
recognition and respect for each other's intellectual property and
lays the foundation for future collaboration between OPPO and
Nokia. OPPO continues to advocate for reasonable royalty fees and a
long-term approach to intellectual property that supports the
resolution of disputes through amicable negotiations and mutual
respect for the value of all intellectual property."
The agreement is consistent with the assumptions Nokia has
disclosed in the commentary with respect to Nokia Technologies
long-term outlook in its Financial Report for Q3 issued on October
19, 2023. Nokia will begin recognizing net sales from this
agreement, including catch up payments covering non-payment during
the dispute period, in Q1 2024. Nokia Technologies is progressing
towards the conclusion of the smartphone renewal cycle and is
making good progress in its growth areas of automotive, consumer
electronics, IoT and multimedia. It remains confident that its
annual net sales run-rate will return to EUR 1.4 to 1.5 billion in
the mid-term.
Nokia's industry-leading patent portfolio is built on more than
EUR140 billion invested in R&D since 2000 and is composed of
around 20,000 patent families, including over 6,000 patent families
declared essential to 5G. Nokia contributes its inventions to open
standards in return for the right to license them on fair,
reasonable and non-discriminatory (FRAND) terms. Companies can
license and use these technologies without the need to make their
own substantial investments in the standards, fueling innovation
and the development of new products and services for consumers.
About Nokia
At Nokia, we create technology that helps the world act
together.
As a B2B technology innovation leader, we are pioneering
networks that sense, think and act by leveraging our work across
mobile, fixed and cloud networks. In addition, we create value with
intellectual property and long-term research, led by the
award-winning Nokia Bell Labs.
Service providers, enterprises and partners worldwide trust
Nokia to deliver secure, reliable and sustainable networks today --
and work with us to create the digital services and applications of
the future.
Inquiries:
Nokia Communications
Phone: +358 10 448 4900
Email: press.services@nokia.com
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Kaisa Antikainen, Communications Manager
Nokia
Investor Relations
Phone: +358 40 803 4080
Email: investor.relations@nokia.com
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(END) Dow Jones Newswires
January 24, 2024 02:00 ET (07:00 GMT)
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