Nokia, Daimler End Patent Licensing Feud

  • Nokia NOK inked a patent licensing agreement to license 3G and 4G mobile telecommunications technology to Daimler AG DMLRY for a fee.
  • They agreed to settle every pending lawsuit between them, including Daimler’s EC litigation. The agreement terms remain confidential.
  • The lawsuit could have led to the suspension of Daimler’s production and sales of its cars and trucks, Financial Times reports.
  • The lawsuit was triggered last year after Daimler refused to pay Nokia for patents used in its vehicles, Bloomberg reports.
  • Several German courts had prosecuted Daimler for refusing to buy licenses for the technology.
  • Daimler wanted its suppliers to buy the technology from Nokia, leading to lower fees for intellectual property use.
  • Nokia earns $1.7 billion in annual licensing revenues, Reuters reports.
  • Price action: NOK shares traded higher by 0.19% at $5.17 in the premarket session on the last check Tuesday.
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