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Finnish kit maker says agreement will drive 2016 patent revenues to 950 million.
Nokia and Samsung this week extended their patent cross-licensing agreement, which is expected to boost the former’s full-year intellectual property (IP) revenues.
The move builds on the five-year agreement established in February – when an arbitration court ended a long-running patent dispute between Nokia and Samsung – by providing greater access to each company’s patented technologies.
"We welcome this expanded agreement with Samsung which recognises the strength of our assets, and we continue to pursue new licensing opportunities across a number of diverse industries," said Ramzi Haidamus, president of Nokia Technologies, the division that oversees Nokia’s IP activities and R&D.
With the expanded agreement, Nokia said annualised sales related to patent and brand licensing are expected to grow to approximately €950 million by the end of 2016. In 2015, Nokia Technologies as a whole generated sales of €720 million.
"With intellectual property portfolios from Nokia Technologies, Nokia Networks and Alcatel-Lucent, Nokia has a wealth of technologies relevant to mobile devices and beyond," Haidamus said.
