11/4/2013 10:46:24 AM
Nokia extends patents deal with Samsung
Nokia has extended its patent licence deal with Samsung until 2019, after the existing deal was due to expire at the end of this year.
While Nokia is selling its devices and services business to Microsoft, the manufacturer will continue to hold its patent portfolio. No details about the deal were revealed, although Nokia said Samsung will pay Nokia 'additional compensation' from 2014 onwards, with the final amount paid to be determined during 2015.
Paul Melin, chief intellectual property officer at Nokia, said: 'This extension and agreement to arbitrate represent a hallmark of constructive resolution of licensing disputes, and are expected to save significant transaction costs for both parties.'
Author: Graeme Neill