Nokia stated that it has signed a multi-year 5G intellectual license deal with Chinese smartphone maker Vivo and will begin reporting net sales from the transaction in the first quarter of 2024.
Nokia (NOKIA.HE) announced on Monday that it has inked a multi-year 5G intellectual license agreement with Chinese smartphone vendor Vivo and would begin recognizing net sales from the transaction in the first quarter of 2024.
“The agreement settles all pending patent litigation between the parties in all jurisdictions. The terms of the deal are kept confidential as agreed between the parties,” Nokia said in a statement.
It was Nokia’s sixth significant smartphone licensing arrangement in the last 13 months, following agreements with Apple, Samsung, OPPO, Honor, and Huawei.
“Nokia has now almost completed its smartphone license renewal cycle,” according to the company.
The corporation last month stated that it expects Nokia Technologies, its intellectual property licensing arm, to produce up to 1.4 billion euros ($1.51 billion) of operating profit in 2024.
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