Nokia made more money from Apple than from selling phones last quarter
An insider familiar with the terms of the patent licensing deal between Nokia and Apple, said the settlement deal brought the Finnish phone maker $600 million last quarter.
This huge amount of royalties was padded by the record-breaking quarter for Apple, which sold 35.1 million phones in the January-March period, hence had to pay patent license fees for more units.
Compared to its GAAP results that recorded a 5% loss from the phone business in Q1, Nokia's patents are likely to become a huge cash cow for the company, so it has something to fall back on if the Lumia Windows Phone handset sales don't take off as expected.
Nokia's current market cap is just $14 billion, so it will be interesting to see if the Redmond giant will swoop in at some point to add to its patent war chest, or acquire total control of the Finns' smartphone business in some way. After all, Microsoft sits on $60 billion in cash, and gave $8 billion for Skype not long ago.