Nokia, Vivo sign 5G patent deal

Nokia, the Finnish telecom equipment maker, has announced the signing of a multi-year 5G patent license agreement with Chinese smartphone manufacturer Vivo to contribute to Nokia’s net sales starting in the first quarter of 2024.

“The agreement resolves all pending patent litigation between the parties, in all jurisdictions. The terms of the agreement remain confidential as agreed between the parties,” Nokia said in a statement.

“We are pleased to have reached a global cross-license agreement with Nokia. Signing the agreement, reflects the mutual recognition and respect for each other’s patent value in cellular technology and it also plays a significant role in fostering a positive development environment within the industry,” said Xianwen Xu, General Manager of Legal Affairs Department at Vivo Mobile Communication.

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The deal is Nokia’s sixth smartphone licensing agreement within a span of just 13 months. It adds to a lineup of partnerships that already include renowned tech giants such as Apple, Samsung, OPPO, Honor, and Huawei.

“Nokia has now almost completed its smartphone license renewal cycle,” the company said.

Last month, the company projected that Nokia Technologies, its intellectual property licensing division, is poised to achieve a minimum operating profit of 1.4 billion euros ($1.51 billion) in 2024.