Nokia and Samsung extend their patent license agreement

With the earnings release for Q3 2018, Nokia also published a press release informing the public that the company extended their license agreement with Samsung, which was due to expire by the end of 2018. It’s a short and simple press release, not saying much in terms of the financial agreement. It follows in full down below.

Espoo, Finland – Nokia announced today, in conjunction with its results announcement for Q3 and January-September 2018, that it has extended the patent license agreement between Nokia and Samsung, which would otherwise have expired at the end of 2018.

Under the agreement, Samsung will make payments to Nokia for a multi-year period beginning 1 January 2019 onwards. The terms of the agreement remain confidential between the parties.

“Samsung is a leader in the smartphone industry and has been a Nokia licensee for many years,” said Maria Varsellona, Nokia Chief Legal Officer and President of Nokia Technologies. “We are pleased to have reached agreement to extend our license. This agreement demonstrates the strength of our patent portfolio and our leadership in R&D and licensing for cellular standards including 5G.”

Source: Nokia