Apple Pays Nokia $2 Billion As Part Of Patent Settlement

Nokia has just received a significant financial injection from Apple as part of patent settlement that was announced back in May. The Cupertino company paid the Finnish company an upfront cash payment of €1.7 billion (approximately $2 billion).

As said earlier, Nokia plans to provide more details on the intended use of cash in conjunction with their Q3 earnings, and neither Nokia nor Apple have disclosed the terms of the new licensing deal.

Instead of a simple patent licensing agreement, we have agreed on a more extensive business collaboration with Apple, providing potential for a meaningful uplift in our IP Routing, Optical Networks and Digital Health business units over time. Hence, the value of the agreement will be reflected partly as patent licensing net sales in Nokia Technologies, and partly as net sales in other Nokia business groups.