Nokia Technologies has announced it has entered a smartphone patent licensing deal with South Korean manufacturer, LG Electronics. As part of the licensing deal, LG would pay royalties to Nokia.
LG would have access to more than 60 patents owned by Nokia which are related to 2G, 3G and 4G mobile technologies and would become the first major smartphone manufacturer to license the Nokia patent portfolio since the company sold off its mobile division to Microsoft in 2014.
Nokia and LG enter into smartphone patent licensing deal
“We are pleased to welcome LG Electronics to our licensing program. We’ve worked constructively with LG Electronics and agreed a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future.”
Ramzi Haidamus, President of Nokia Technologies, said.
Nokia has a patent portfolio size of around 30,000; the patents relate to 2G, 3G and 4G mobile communication technologies including . Over 60 companies have entered patent licensing with Nokia however at the moment only Microsoft currently has access to all of Nokia’s Patents.
Both LG and Nokia didn’t not come to terms with a pricing; the official release suggests the royalty would be subject to commercial arbitration where the exact figures would be determined in One or Two years time. Other terms of the deal would be kept confidential.
Source: Nokia
