Nokia and Samsung Expand Patent Deal
July 13 2016 - 2:14AM
Dow Jones News
By Dominic Chopping
Nokia Corp. (NOKIA.HE) and Samsung Electronics Co. (005930.SE)
agreed to expand a licensing deal Wednesday in a deal that grants
the two companies greater access to each other's patented
technologies.
Nokia said the deal will help boost annual sales from patent and
brand licensing at its Technologies unit to around 950 million
euros ($1.05 billion) by the end of 2016. The unit reported sales
of EUR403 million in 2015.
Today's agreement is likely to benefit the sales from the third
quarter of 2016 and comes less than six months after the companies
settled a patent dispute through the International Court of
Arbitration that resulted in Samsung agreeing to pay Nokia at least
EUR1.3 billion in cash between 2016 and 2018 related to settled and
continuing arbitrations in Nokia Technologies.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
July 13, 2016 01:59 ET (05:59 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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