Nokia and Samsung settle patent dispute

Nokia has announced that it has settled a patent dispute with Samsung, and the Finland-based network equipment manufacturer says that this will boost its patent sales by hundreds of million euros. After this patent settlement, the revenue of Nokia Technologies would increase from €578 million in 2014 to around €1.02 billion (around $1.1 billion) in 2015, which includes catch-up payments from the past two years.

Nokia and Samsung entered into a binding arbitration in 2013 to settle additional compensations for Nokia's phone patents for a five-year period, which started in early 2014. Nokia expects to receive at least €1.3 billion cash during 2016-2018 related to settled as well as ongoing arbitrations. Samsung's shared rose by over 1.1 percent following the news of this deal.

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Asif Iqbal Shaik - Senior Editor

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First Samsung device: T100

Asif is a computer engineer turned technology journalist. He has been using Samsung phones since 2004, and his current smartphone is the Galaxy S21 Ultra. He loves headphones, mechanical keyboards, and PC hardware. When not writing about technology, he likes watching crime and science fiction movies and TV shows.

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