Apple Paid Nokia $2 Billion in Cash as Part of Patent-Settlement Deal

[Maura]

9to5 Mac reports that Nokia has just revealed that it was paid $2 billion in cash by Apple last quarter as part of a patent-settlement deal between the two companies. Previously, in May, Nokia and Apple announced that they had come to an agreement in their dispute, with Apple’s chief operating officer, Jeff Williams, saying,

“We are pleased with this resolution of our dispute and we look forward to expanding our business relationship with Nokai.”

Now, more details have been revealed about the deal, with Nokia disclosing during an earning’s call this week that it had received a cash payment of $2 billion, and that “instead of a simple patient licensing agreement, we have agreed on a more extensive business collaboration with Apple, providing potential for a #meaningful uplift in our IP Routing, Optical Networks, and Digital Health businesses over time.”

Source: Apple paid Nokia $2 billion cash to settle its patent dispute