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Nokia Renews Patent License Agreement with Apple

FILED - 25 February 2018, Spain, Barcelona: A Nokia logo is pictured at the hosting venue during the "Mobile World Congress". Photo: Andrej Sokolow/Deutsche Presse-Agentur GmbH/dpa
FILED - 25 February 2018, Spain, Barcelona: A Nokia logo is pictured at the hosting venue during the "Mobile World Congress". Photo: Andrej Sokolow/Deutsche Presse-Agentur GmbH/dpa
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Nokia Renews Patent License Agreement with Apple

FILED - 25 February 2018, Spain, Barcelona: A Nokia logo is pictured at the hosting venue during the "Mobile World Congress". Photo: Andrej Sokolow/Deutsche Presse-Agentur GmbH/dpa
FILED - 25 February 2018, Spain, Barcelona: A Nokia logo is pictured at the hosting venue during the "Mobile World Congress". Photo: Andrej Sokolow/Deutsche Presse-Agentur GmbH/dpa

Network infrastructure and 5G technology provider Nokia has signed a new long-term patent license agreement with Apple to replace the current deal between the two companies that is set to expire at the end of 2023.
The deal, which enables Apple to use the Finnish company’s technology in its products, covers Nokia’s inventions in 5G and other technologies. The terms of the agreement announced late Friday remain confidential.
Nokia expects to recognize revenue related to the agreement starting January 2024, and the company said the deal is consistent with its long-term outlook disclosed in the first quarter.
“The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies,” Nokia Technologies President Jenni Lukander said in a statement.
The previous license agreement between Apple and Nokia was announced in May 2017.
Nokia said its patent portfolio is built on more than €140 billion ($153 billion) invested in research and development since 2000, and is composed of around 20,000 patent families, including over 5,500 patent families declared essential to 5G.

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Nokia Joins Ericsson in Seeing Signs of Recovery after Mixed Results

FILE PHOTO: A Nokia logo is seen at company's headquarters in Espoo, Finland, May 5, 2017. REUTERS/Ints Kalnins
FILE PHOTO: A Nokia logo is seen at company's headquarters in Espoo, Finland, May 5, 2017. REUTERS/Ints Kalnins
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Nokia Joins Ericsson in Seeing Signs of Recovery after Mixed Results

FILE PHOTO: A Nokia logo is seen at company's headquarters in Espoo, Finland, May 5, 2017. REUTERS/Ints Kalnins
FILE PHOTO: A Nokia logo is seen at company's headquarters in Espoo, Finland, May 5, 2017. REUTERS/Ints Kalnins

Finnish telecom equipment supplier Nokia on Thursday reported a 9% rise in third-quarter operating profit on cost cuts, and echoed rival Ericsson in seeing demand recovery in some areas.
However, quarterly net sales fell 8% to 4.33 billion euros ($4.70 billion), missing estimates of 4.76 billion euros due mainly to lower sales to India. That sent its shares down 3%, Reuters said.
Both Nokia and Ericsson said North America has started to show signs of growth after years of weakness, but Nokia's market share in the region had dropped after losing contracts with Verizon and AT&T over the years.
"We have seen a really bad cycle... Now that decline is over and it is starting to gradually recover, which is good, but it (telecom) will never be a huge growth market," CEO Pekka Lundmark said in an interview.
He cautioned that growth was happening more slowly than earlier expected.
"North America has started to show pretty good signs, and we had strong growth in Q3 in network infrastructure," Lundmark said.
Nokia's total addressable market in telecom stands at around $84 billion.
To look for growth, Nokia has been targeting the data center and defense sectors, splurging $2.3 billion to buy US optical networking gear maker Infinera in June to target data center operators.
"That's where the growth will come from, and that growth is starting already," Lundmark said.
Demand from Indian clients, which has dropped significantly this year, is also recovering after Nokia last month got a big contract from Vodafone Idea and is expected to get another from Bharti Airtel .
"India will return back to growth next year," Lundmark said.
Comparable earnings before interest and tax rose to 454 million euros, beating the 424 million euros expected by analysts in an LSEG poll.

Nokia maintained its full-year profit outlook of 2.3 billion to 2.9 billion euros, but said it was currently tracking within the bottom half of that range.