The terms of the settlement include withdrawal by both companies of complaints against the other with the U.S. International Trade Commission, Nokia (Espoo, Finland) said. The specific terms of the contract are confidential, the company said.
Nokia and Apple have filed several complaints against one another in the ITC and other venues since late 2009. The two companies have become heated rivals since Apple introduced the original iPhone. In the first quarter of this year, Apple overtook Nokia to become No. 1 in the world in handset revenue, according to research and consulting firm Strategy Analytics Inc.
In a statement, Stephen Elop, Nokia’s president and CEO, said the company was pleased with the licensing deal, which he said would open to the door for Nokia to further licensing opportunities in the mobile communications market.
Nokia said it has invested about 43 billion euro (about $62.3 billion at current conversion rates) in R&D over the past two decades. The company claims to have built one of the wireless industry’s strongest and broadest patent portfolios, with more than 10,000 patents.
Nokia said it expects the Apple agreement is expected to have a positive financial impact on the company’s recently revised outlook for the second quarter. Nokia said late last month it expects net sales from devices and services to be substantially below its previously expected second quarter range of between 6.1 billion euro ($8.8 billion) and 6.6 billion euro ($9.5 billion).