Nokia and Samsung inked a patent license agreement two years ago, which would have expired at the end of 2018. Today, both companies announced they have agreed to expand their patent license deal for a multi-year period beginning January 1, 2019.
Samsung will continue to make payments to Nokia for the entire duration of the agreement, but the terms of the deal remain confidential between the parties. The patent license deal between the two giants is likely to be further extended in 2021 considering the previous one was signed in 2016.
Samsung is a leader in the smartphone industry and has been a Nokia licensee for many years. We are pleased to have reached agreement to extend our license. This agreement demonstrates the strength of our patent portfolio and our leadership in R&D and licensing for cellular standards including 5G - Maria Varsellona, Nokia Chief Legal Officer and President of Nokia Technologies.
Nokia has patent license agreements with other major companies as well, including Huawei, not to mention that its contribution to creating the 5G standard to be used in smartphones will bring the Finnish company €3 per device sold.