NOK Nokia Corp

By Juhana Rossi

HELSINKI--Nokia Corp.'s (NOK) patent licensing unit has agreed to provide a smartphone technology patent license to South Korea's LG Electronics Inc. (066570.SE), the network equipment supplier said Tuesday.

The agreement is the first licensing deal Nokia has struck since it sold its mobile device business to Microsoft Corp. (MSFT) in 2014, Nokia said in a statement.

The detailed royalty payment obligations will be decided in a commercial arbitration, which is set to be concluded within two years. Other terms of the agreement between Nokia and LG will remain confidential, Nokia said.

Nokia said it has more than 60 licensees for Nokia's 2G, 3G and 4G mobile communication technologies.

Write to Juhana Rossi at juhana.rossi@wsj.com; Twitter: @WSJNordics

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