Nokia has received a 2 billion U.S. dollars upfront cash payment from Cupertino-based tech company as part of the settlement terms after patents row that escalated between Nokia and Apple in December a year ago and was settled in May. Nokia alleged Apple of 32 patent infringements related to display, user interface, software, antenna, chip-set, and video encoding in 2016.
According to the report, Apple has paid a certain amount of the money in the second quarter of 2017 and will continue to pay royalties to Nokia. Neither Nokia nor Apple have disclosed the terms of the new licensing deal, including whether it involves recurring payments or how many years it will be in place.
"We got a substantial upfront cash payment of €1.7 billion from Apple, strengthening further our cash position".
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Following the patent infringement case Apple had to pull out all products using infringing technology from its online and retail Apple stores across the countries. In Apple's claims, the company said that Nokia was transferring patents to patent holding entities in a bid to gain additional royalties from Apple, violating FRAND (Fair, Reasonable, and Non-Discriminatory) deals Apple had established with Nokia. Nokiamob then reached out to Nokia, and the company confirmed that the cash payment came from Apple, Mac Rumors said.
Nokia and Apple have been in a legal battle since 2011, when Nokia filed a complaint against Apple for licensing fees.
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