Nokia - Huawei smartphone patent licensing deal is trending all over the world. So recently, Nokia signed a multi-year smartphone patent licensing deal with the Chinese giant, Huawei. The deal will cover a wide range of Nokia's patents.
 |
| Nokia - Huawei Smartphone Patent Licensing Deal |
The details of the deal have not been disclosed, so the company has not provided any financial details of this agreement.
“Huawei is one of China’s largest companies and is
among the world’s leading smartphone manufacturers and we are delighted
to welcome them to our family of patent licensees,” said Maria
Varsellona, chief legal officer at Nokia.
“It’s a significant deal because Nokia now has agreements with all the
big phonemakers…The network market will remain tough, but the growing
patent revenue will compensate for it,” said analyst Mikael Rautanen
from research firm Inderes, which holds a “buy” rating on the stock.
"While details of the license agreement remain confidential, Nokia will follow its existing practices for disclosing patent licensing revenue in its quarterly financial reports and expects that revenue for the agreement will begin to be recognized in the fourth quarter of 2017, including an element of non-recurring catch-up revenue, with additional revenues expected during the term of the agreement," as per the Nokia's website.
Source: Nokia
So, if you liked this post then SHARE it and do SUBSCRIBE via e-mail to remain updated with every tech news.