Apple Paid Nokia $2 Billion as a Part of Patent Lawsuit Settlement

Apple Paid Nokia $2 Billion as a Part of Patent Lawsuit Settlement
Highlights
  • Nokia will not get $2 billion every quarter
  • The spat began last year when the tech giants locked horns over patents
  • Nokia also filed a suit directly against Apple in Europe and the US
Advertisement

After a patents row that escalated between Nokia and Apple in December last year and was settled in May, Nokia has received a $2 billion (roughly Rs. 12,818 crores) upfront cash payment from Cupertino-based tech company as part of the settlement terms.

According to a report in TechCrunch on Friday, Nokia will not get $2 billion every quarter - this was non-recurring catch-up revenue and Nokia hasn't said what it plans to do with all this cash.

The spat began last year when the tech giants locked horns over patents, with Apple filing an antitrust lawsuit against third-party companies Patent Assertion Entities (PAEs) that act on Nokia's behalf, and the Finland-based firm suing Apple directly.

According to the Cupertino-based tech giant, Nokia was conspiring with PAEs patent assertion entities (Acacia Research and Conversant Property Management) in an "illegal patent transfer scheme" to wring money out of Apple because Nokia's cell phone business was failing.

Nokia also filed a suit directly against Apple in Europe and the US, claiming the company was still infringing on Nokia patents.

The lawsuit covered 32 patents, including display, user interface, software and video-coding technology.

Amid the escalating patents row with Finnish smartphone maker Nokia, Apple had also pulled all products made by Withings - a French company and now a Nokia subsidiary - from Apple Stores, be it online or retail.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Game of Thrones Season 7 Episode 3: Is Daenerys Really the Last Targaryen? R+L=J Explained
IoT Promises a Lot but Without Proper Security, It’s a Pandora's Box
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »