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Nokia, Samsung patent agreement renewed

Nokia Corp. announced this week that Samsung Electronics Co. has extended a patent license agreement between the two firms for five years.


November 8, 2013  


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Nokia Corp. announced this week that Samsung Electronics Co. has extended a patent license agreement between the two firms for five years.

The agreement would have expired at the end of this year. According to a new agreement, Samsung will pay additional compensation to Nokia for the period commencing from Jan. 1, 2014 onwards, and the amount of such compensation shall be finally settled in a binding arbitration which is expected to be concluded during 2015.

“This extension and agreement to arbitrate represent a hallmark of constructive resolution of licensing disputes, and are expected to save significant transaction costs for both parties”, said Paul Melin, chief intellectual property officer of Nokia.

Nokia will retain its patent portfolio following the proposed transaction to sell substantially all of its Devices & Services business to Microsoft Corp. and sees further opportunity to create value by investing in innovation, and by actively managing its patent portfolio and licensing activities.