Nokia renews patent license agreement with Apple, covering 5G and other technologies

HELSINKI (AP) — Network infrastructure and 5G technology provider Nokia has signed a new long-term patent license agreement with Apple to replace the current agreement between the two companies that is set to expire at the end of 2023.

The agreement, 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 deal announced late Friday remain confidential.

Nokia expects to recognize revenue related to the deal from January 2024, and the company said the deal is consistent with the long-term outlook announced in the first quarter.

“The agreement reflects the strength of Nokia̵[ads1]7;s patent portfolio, decades of investment in R&D and contributions to mobile standards and other technologies,” Nokia Technologies president Jenni Lukander said in a statement.

The previous licensing agreement between Apple and Nokia was announced in May 2017.

Nokia said its patent portfolio, built on more than 140 billion euros ($153 billion) invested in research and development since 2000, consists of around 20,000 patent families, including over 5,500 patent families declared essential for 5G.

The Espoo, Finland-based Nokia is one of the world’s main suppliers of 5G, the latest generation of broadband technology, along with Sweden’s Ericsson, China’s Huawei and South Korea’s Samsung.