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Apple Pays US$2.0 Billion to Nokia in Cash to End Patent Battle

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Published on : Jul 31, 2017

Apple has allegedly paid a US$2.0 bn in cash to Nokia according to an agreement between the two multinational technology behemoths. The agreement has been expected to concern patent applications. This update has been published on a web portal specialized in the issues of the Finnish firm. Announced last week, the Q2 financial report of Nokia has reflected the “prepayment.” As proposedly said by a Nokia spokesperson, the money held by the company could be strengthened with Apple’s payment. More details about Nokia’s future plans with the money are anticipated to be published in the Q3 financial report.

Apple Settles Patent Issues with Nokia, Explores Future Collaboration

The cessation of the legal clashes between the two technology businesses was publicized with quite some fanfare by Apple in May. The announcement had revealed Apple’s payment to Nokia, but without the amount. Asides the claims payment, the May agreement has covered the reappearance of Withings health products to Apple stores. Withings was bought by Nokia in 2016. Besides these, both the companies have signed a collaboration for future health products under the agreement.

December 2016 had witnessed the commencement of the legal war between Nokia and Apple with the former suing the latter in different countries for supposed violation of several patents on behalf of the Finnish. Later, Apple had withdrawn Withings products from its stores.

Not to forget, Apple has a thornier dispute with its chip supplier and key patent holder, Qualcomm. However, the cash deal with Nokia could eliminate one of the company’s legal headaches.