Nokia Signs Smartphone Patent Licensing Deal With Huawei

technicalstudio | December 20, 2017 | 0 | Tech News

Nokia said on Thursday it had signed a multi-year smartphone patent licence deal with China’s Huawei, completing its list of agreements with the world’s largest handset makers.

The companies did not provide financial details of the agreement, but Nokia said it would start booking revenue, including and a one-off catch-up payment, from the fourth quarter.

Nokia has recently struck licensing deals with handset makers including Apple, Samsung Electronics, LG, and Xiaomi.

More than 90 percent of Nokia’s revenue comes from telecoms network equipment, but the licensing payments are highly profitable amid an industry-wide slump in the network business.

Nokia’s shares rose 2.7 percent by 08:58 GMT.

This article was sourced from Gadgets360

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