HELSINKI (AP) — Network infrastructure and 5G technology provider Nokia has signed a new long-term patent licensing agreement with Apple to replace the current agreement between the two companies that expires at the end of 2023.
The deal, which will enable Apple to use the Finnish company’s technology in its products, includes Nokia’s innovations in 5G and other technologies. Terms of the deal, announced late Friday, remain confidential.
Nokia expects to recognize revenue related to the deal from January 2024, and the company said the deal is consistent with its long-term outlook released in the first quarter.
“This agreement reflects the strength of Nokia’s patent portfolio, decades of investments in R&D and contributions to cellular standards and other technologies,” Nokia Technologies president Jenny Lukanter said in a statement.
The previous licensing agreement between Apple and Nokia was announced in May 2017.
Nokia’s patent portfolio is built on €140 billion ($153 billion) invested in research and development since 2000, and has around 20,000 patent families, including more than 5,500 patent families declared essential for 5G.
Along with Sweden’s Ericsson, China’s Huawei and South Korea’s Samsung, Espoo, Finland-based Nokia is one of the world’s leading suppliers of 5G, the latest generation of broadband technology.