General

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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kronicle
kronicle

This is great news for both Samsung and Nokia. Because rumor is they are also working on some sort of partnership on 3D VR. Don’t know what that is…. exactly, but Nokia and Samsung Engineers have been seen indeed meeting together lately. Nokia does have lots of camera technology patents and if they are now moving so fast into the 3D VR space as Samsung too we may even see a co-branded device launch!