Life is good when people connect, so to speak, while LG and Nokia Technologies make a historical agreement.
Microsoft might have bought Devices & Services division from Nokia, but that doesnt stop the Finnish independent arm Nokia Technologies from offering smartphone patent licenses to mobile makers such as LG Electronics.
This week LG and Nokia Technologies came to a smartphone patent licensing agreement involving Nokia’s 2G, 3G and 4G mobile communication technologies. LG is the first major smartphone manufacturer to join the licensing program after Microsoft takeover.
“We are pleased to welcome LG Electronics to our licensing program. We’ve worked constructively with LG Electronics and agreed a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future,” said Ramzi Haidamus, President of Nokia Technologies.
This will be a long-term partnership and the detailed royalty payment obligations will be subject to commercial arbitration, expected to conclude within a 1-2 year timeframe. Some of the terms of the smartphone patent licensing agreement will remain confidential between the two parties.