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16 June 2011 ,
Written by Dhruv Tanwar
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Nokia and Apple have decided to settle their patent issues, with Apple paying Nokia to settle all litigation and entering into a patent licensing agreement.
In a statement, Nokia said that it has inked a patent license agreement with Apple that will settle all patent litigation between the two companies, including the withdrawal by Nokia and Apple of their respective complaints to the US International Trade Commission. Apple will make a one-time payment to Nokia along with on-going royalties as part of the agreement terms. Nokia did not outline any terms of the contract, citing confidentiality. Nokia also said that the agreement would have a positive financial impact on its revised outlook for the second quarter 2011 of around break-even non-IFRS operating margin for Devices & Services. |