Nokia (NYSE: NOK) stated in a press release on Monday that Samsung (SSNLF:OTC US) has extended for five years a patent agreement that was set to expire at the end of this year.
This patent extension agreement will do good for the Finnish company in its quest to seeks additional profits after selling its handset unit to Microsoft
Samsung is contracted to pay Nokia (NYSE: NOK) a supplementary compensation starting Jan. 1, according to a statement from Espoo, Finland-based Nokia today. The total amount will be settled in a binding settlement expected to be concluded in 2015. The previous agreement was set to close at the end of this year.
BloombergNokia, Samsung Extend Patent DealFox BusinessNokia (NOK) said Samsung on Monday extended an existing phone patent license agreement for five years as Nokia continues to leverage its portfolio of patents despite the planned sale of its device …
In September the former mobile-phone market leader agreed to sell its handset division to Microsoft Corp. The exclusive rights on patents will be one area wherein Nokia may focus on gaining additional profits. Thus, without phones, the company’s largest business will be network equipment, and it is also hanging on to patents in order to generate licensing income.
Patents are the bread-and-butter of the mobile market with many legal battles fought in court to secure and enforce them. Huge amounts of money change hands as technology company’s license patents held by others. Nokia and Samsung have announced that they have extended their patent agreement adding another five years to the deal.
Nokia And Samsung Extends Patent License Agreement For Another Five Years
Nokia And Samsung Extends Patent License Agreement For Another Five Years.
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