Okay! Some good news from Nokia for once


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Tuesday, 14 June 2011
Nokia put some shine on its face with something of a good news for hard-pressed company in recent times. The Finnish telecom giant has reached an agreement with Apple and Steve Jobs in a long-running patent dispute.

Apple will pay a lump sum to Nokia as well as royalties for inventions that the U.S. Company has used in iPhone.
The agreement between Nokia and Apple regulate "all patent disputes" between the companies and means that Apple pays a lump sum to Nokia, and royalties in the future.

How much money is Apple to pays is unclear. "The financial details of agreement are confidential and there is information that we do not share in public, "said James Etheridge, communications manager at Nokia.


"Our goal in the dispute has been to reach an agreement with Apple for use of our inventions. That's what we did today. The deal reflects how Apple has been using our inventions, "said James Etheridge.

On May 31, Nokia delivered a profit warning for the second quarter. Apple's one-off payment is expected to have a positive effect on business Devices & Services, which will achieve an operating margin around zero in the second quarter, according to press release from Nokia on Tuesday.

Nokia's CEO Stephen Elop said in a statement that Apple is now joining a growing number of companies that pay for licenses for the Nokia 'industry-leading patent portfolio. "
By Team

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