On Tuesday, May 23, 2017, by settling its patent dispute with Apple, Nokia signs a business collaboration deal with the US giant, which has made its shares rise. So they deiced a new Deal between Apple & Nokia.
Business Deal between Apple & Nokia
Talking further about this deal, Nokia mentioned that from the current quarter, it will receive upfront cash and some additional revenues from Apple. In December, Nokia’s shares fell due to the patent dispute with Apple, has now jumped up by 7.4% to 5.93 euros after this business collaboration deal.
Even the analysts were surprised with such a quick solution to this dispute as they had expected it to linger on for longer.
What Nokia Chief Say about it ?
Nokia chief Legal Officer Maria Varsellona mentions in a statement that this business collaboration transforms their relationship with Apple from adversaries in court to business partners.
The dispute had aroused when the previous patent license conract between the companies has expired last year in December and both of them took legal actions against each other. Nokia had accused Apple for violating technology patents while Apple accused Nokia for overcharging them.
Nokia says that it would provide the services of network infrastructure to Apple in this new agreement and on the other hand Apple would continue to display and promote Nokia’s digital health products in its retail and online stores.