Skip to main content

Apple paid Nokia $2 billion as part of a patent lawsuit settlement



After a quick fight, Apple and Nokia settled a patent lawsuit back in May. But the two companies didn’t comment on the value of this settlement. While terms of the deal are still undisclosed, Nokiamob first spotted that Nokia announced that it has received a $2 billion upfront cash payment from Apple (€1.7 billion).

This seems like quite a lot of money, but Nokia won’t get $2 billion every quarter — this was non-recurring catch-up revenue. Nokia hasn’t said what it plans to do with all this cash.

The lawsuit began late last year. Nokia first accused Apple of infringing some of Nokia’s patents as well as patents from NSN and Alcatel-Lucent — Nokia owns those companies and their respective patent portfolios.

According to Nokia, it’s been a longstanding infringement as Apple has allegedly relied on some of Nokia’s patents since the iPhone 3GS. Those patents are related to software, video coding, chipsets, display, UI and antenna.


It looked like an intense fight at first as Apple removed Withings’ products from its stores — Withings is a division of Nokia. But the two companies quickly reached an agreement and you can find Withings products again in Apple stores.

Instead of signing a usual patent licensing deal, Apple and Nokia want to go a step further and collaborate on technologies and research and development. In other words, Apple is paying Nokia to help them when it comes to digital health, optical network and IP routing.

It’s going to be interesting to look at Nokia’s upcoming quarterly earnings release to figure out how much Apple is paying for this agreement. But there’s one thing for sure — Nokia must be quite happy with this new revenue stream.

More@ https://www.technapping.com




Source: Techcrunch

Comments

Post a Comment

Popular posts from this blog

Walmart expands its grocery delivery business, powered by Uber

Walmart is expanding a test of its grocery delivery service, powered by Uber, the company announced this week. The retailer is now offering grocery delivery in two new markets — Dallas and Orlando — which join Tampa and Phoenix as locations where consumers can shop online for grocery items, then opt to have them come to their home for an additional $9.95 fee. Grocery delivery has been something Walmart has experimented with for years, starting with tests in Denver and San Jose of grocery delivery using its own service and trucks. The tests involving Uber are newer, however. In June, 2016, Walmart began a trial in Phoenix, which expanded to Tampa this March. In those locations, Walmart offers grocery delivery at five local stores per market. This week’s Dallas test is larger, with 8 stores participating. In Orlando, there are four stores involved. The grocery delivery service is available via the same online grocery shopping website where customers can place their pick-up orders — a s...
Post a Comment
Read more

WTF is bitcoin cash and is it worth anything?

Early yesterday morning bitcoin’s blockchain forked — meaning a separate cryptocurrency was created called bitcoin cash . The way a fork works is instead of creating a totally new cryptocurrency (and blockchain) starting at block 0, a fork just creates a duplicate version that shares the same history. So all past transactions on bitcoin cash’s new blockchain are identical to bitcoin core’s blockchain, with future transactions and balances being totally independent from each other. For practical matters, all this really means is that everyone who owned bitcoin before the fork now has an identical amount of bitcoin cash that is recorded in bitcoin cash’s forked blockchain. But it’s not exactly this easy. If you control your own private keys, or hold your bitcoin in an exchange that said it would credit users’ balances with bitcoin cash, you’re fine and can access your newfound cryptocurrency right now. If you held your bitcoin with a provider like Coinbase, which said before the fork t...
Post a Comment
Read more

Bitcoin breaks $3,000 to reach new all-time high

Bitcoin has reached a record high valuation of $3,000 per coin to complete a rollercoaster week that begin with the long-awaited split of the cryptocurrency. A number of exchanges, including popular destinations Coinbase and Kraken , valued a single bitcoin at over $3,000, an all-time high that is up $485 on the valuation one month ago. Earlier this year, Bitcoin surged to surpass $2,000 for the first time in May going on to almost reach $3,000 in June only for the valuation to crash . Over the last twelve hours, bitcoin’s value has jumped by over 10 percent as forked currency bitcoin cash has seen its valuation crash by 30 percent. Some exchanges including China’s OkCoin even put the value of one bitcoin above $3,200 right now. Finally, the surge means that the total market cap of bitcoin is more than $50 billion — $51,737,289,581 at the time of writing according to Coinmarketcap.com . A Coinbase chart shows bitcoin’s valuation has passed $3,000 per coin One chief concern around t...
Post a Comment
Read more