Nokia and Chinese smartphone maker vivo have signed a multi-year patent license agreement, settling all pending litigation between the two companies. The deal will see vivo pay royalties to Nokia for using its cellular patents, as well as make a one-time payment to cover the dispute period.
This marks the sixth major patent deal Nokia has signed in the last 13 months, an important step in renewing expiring licenses. With the agreement, vivo will likely gain access again to sell its phones in European markets, after previously being banned due to the ongoing legal dispute.
Jenni Lukander, President of Nokia Technologies, stated the agreement will provide long-term stability to Nokia’s licensing business. Meanwhile, vivo said it reflects mutual respect for each other’s patents and will foster positive development in the industry. Specific financial terms remain confidential as agreed by both parties. The deal caps off Nokia’s recent run of successful smartphone patent licensing renewals as it looks to monetize its extensive patent portfolio.
