Nokia and Samsung jointly signed a patent license agreement related to video standards. As part of the "deal," Samsung will pay Nokia royalties for using its video innovations in some of its future devices. Just to clarify – we are talking about Nokia, not the Finnish company HMD Global, which has been releasing smartphones and classic phones under the Nokia brand since 2016.
Nokia has won numerous awards for its video technology over the years, including four prestigious Technology & Engineering Emmy Awards. In the last twenty years, the company has invested over 129 billion dollars (roughly 2,8 trillion crowns) in research and development and has accumulated more than 20 thousand patents, of which over 3,5 thousand are related to 5G technologies.
This is not the first agreement that the Finnish telecommunications giant and the South Korean technology giant have concluded together. In 2013, Samsung signed an agreement to license Nokia's patents. Three years later, the companies expanded the cross-licensing agreement after Nokia won an arbitration related to the patent license. In 2018, Nokia and Samsung renewed their patent licensing agreement.
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