Finnish telecommunications equipment manufacturer Nokia announced the signing of a multi-year 5G technology licensing agreement with Chinese smartphone maker Vivo. About it reported news agency Reuters, citing a statement from Nokia.
“The agreement will resolve all ongoing patent disputes between the parties in all jurisdictions. The terms of the agreement remain confidential as agreed between the parties.”says Nokia in an official statement.
It is noted that the licensing agreement for 5G technologies with Vivo was Nokia’s sixth in the last 13 months. Previously, the Finnish company signed similar agreements with the Chinese Huawei, Honor and Oppo, the American Apple and the South Korean Samsung.
As in other similar cases, the terms of the deal with Vivo were not disclosed. Nokia said last month that it expects its intellectual property licensing business to generate at least €1.4 billion in operating profit in 2024.