Nokia Signs Last Remaining Smartphone Patent Deal

By Dominic Chopping

Nokia has signed its last remaining major smartphone patent license agreement, concluding its smartphone patent licence renewal cycle that began in 2021.

The Finnish telecom equipment maker didn't disclose the name of the company it had signed the deal with, but said it was the last major smartphone agreement that remained under negotiation.

The deal marks the seventh major smartphone patent deal Nokia has signed in just over a year, following recent agreements with Honor, OPPO, and Vivo, as well as Apple and Samsung last year, and Huawei at the end of 2022.

"Nokia Technologies -- Nokia's licensing business -- will now enter a period of stability with no major smartphone agreements expiring for a number of years," it said.

Nokia expects to book catch-up payments of more than 400 million euros ($430.9 million) in the first quarter of 2024 related to prior periods of non-payment. It said this is consistent with guidance that Nokia Technologies will generate at least EUR1.4 billion of operating profit in 2024 including the benefit of catch-up sales.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

February 08, 2024 10:01 ET (15:01 GMT)

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