Qualcomm and Nokia-branded smartphone maker sign 5G patent agreement

Chipset maker Qualcomm has just announced it has reached an agreement with HMD Global, the Finnish company behind the Nokia-branded smartphones, concerning 5G patents. Under the terms of the agreement, Qualcomm has granted HMD Global royalty-bearing patent licenses to develop, manufacture and sell branded 5G devices.

Basically, the announcement confirms HMD plans to release a 5G-enabled smartphone in the coming future and becoming Qualcomm's new 5G licensee is a necessary step. Also, the US company revealed that with the addition of HMD Global, it now has over 35 5G licensees and continues to expand and solidify licensing business.

HMD Global is not the only smartphone maker that wants a piece of the 5G market. Companies like Samsung, LG, Motorola and a few others have already confirmed plans to launch 5G smartphones this year, and some of them have already fulfilled that promise.

Out of all the 5G smartphones that will be released this year, based on previous history, the Nokia-branded one is likely to be the cheapest. It remains to be seen whether or not HMD Global will actually launch its first ever 5G handset in 2019 or the company will wait for the market to mature.