Nokia signs 5G patent deal with China’s Vivo

HELSINKI – Finnish telecommunications equipment maker Nokia said on Monday it has signed a multi-year 5G patent license agreement with Chinese smartphone supplier Vivo and will start reporting net revenue from the deal in the first quarter of 2024.

“The agreement resolves all pending patent disputes between the parties in all jurisdictions. The terms of the agreement remain confidential as agreed between the parties,” Nokia said in a statement.

It was Nokia’s sixth major licensing deal in the past 13 months and follows deals with Apple, Samsung, OPPO, Honor and Huawei.

Also read: Samsung chief Lee cleared of charges in 2015 merger case

“Nokia has now almost completed the smartphone license renewal cycle,” the company said.

The group said last month it expected its Nokia Technologies intellectual property licensing division to generate an operating profit of at least 1.4 billion euros ($1.51 billion) in 2024.