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.