Apple and Nokia have agreed to multi-year patent license after settling all the patent dispute litigations they had between them. This announcement has been made by the companies after compromising with this intellectual property conflict.
Jeff Williams, Apple's chief operating officer, says in a statement, 'We are pleased with this resolution of our dispute, and we look forward to expanding our business relationship with Nokia.'
According to this agreement, Nokia will provide few network infrastructure product and also services to Apple. On the other hand, Apple is said to resume Nokia digital health products in both the retail and online stores of Apple. It also looks like Apple and Nokia are planning future collaboration in digital health segment.
Basil Alwan, President of Nokia's IP/Optical Networks business, says, 'This agreement will strengthen our collaboration. We look forward to supporting Apple.' To ensure the good-going relationship between these two companies, the regular summits will be held between top executives.
During this term of an agreement, Nokia will get an up-front cash payment from Apple along with some additional revenues. The complete information regarding this is not yet disclosed. This makes Nokia update its capital structure optimization program along with its Q3 results of 2017.
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