8:54:00 PM
.
CUPERTINO, California
and ESPOO, Finland (May 23, 2017) — Nokia and Apple® announced today
that they have settled all litigation related to their intellectual
property dispute and agreed a multi-year patent license.
“This is a meaningful agreement between Nokia and Apple,” said Maria
Varsellona, Chief Legal Officer at Nokia, responsible for Nokia’s
patent licensing business. “It moves our relationship with Apple from
being adversaries in court to business partners working for the benefit
of our customers.”
Under a business
collaboration agreement, Nokia will be providing certain network
infrastructure product and services to Apple. Apple will resume carrying
Nokia digital health products (formerly under the Withings brand) in
Apple retail and online stores, and Apple and Nokia are exploring
future collaboration in digital health initiatives. Regular summits
between top Nokia and Apple executives will ensure that the relationship
works effectively and to the benefit of both parties and their
customers.
“We are pleased with this
resolution of our dispute and we look forward to expanding our business
relationship with Nokia,” said Jeff Williams, Apple's chief operating
officer.
“This agreement will strengthen
our collaboration,” said Basil Alwan, President of Nokia’s IP/Optical
Networks business. “We look forward to supporting Apple. While details
of the agreement remain confidential, Nokia will receive an up-front
cash payment from Apple, with additional revenues during the term of the
agreement.
The value of the agreement
will be reflected partially as patent licensing net sales in Nokia
Technologies and partially as net sales in other Nokia business groups.
Nokia will follow its existing practices for disclosing patent licensing
revenue in its quarterly announcements and expects that revenues for
the agreement will start to be recognized in the second quarter of 2017,
including an element of non-recurring catch-up revenue.
Due to the up-front cash payment from Apple, Nokia intends to
provide a comprehensive update of its capital structure optimization
program in conjunction with its third quarter 2017 results.
Apple revolutionized personal technology with the introduction of
the Macintosh in 1984. Today, Apple leads the world in innovation with
iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software
platforms — iOS, macOS, watchOS and tvOS — provide seamless experiences
across all Apple devices and empower people with breakthrough services
including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more
than 100,000 employees are dedicated to making the best products on
earth, and to leaving the world better than we found it.
Apple and the Apple logo are trademarks of Apple. Other
company and product names may be trademarks of their respective owners.
