Apple has decided to settle its long-running patent dispute with Nokia by paying the Finnish mobile phone maker millions of dollars in licensing fees.
Nokia had filed a patent infringement complaint with the US Federal Trade Commission, accusing Apple of violating 24 of its patents a year and a half ago. The company had also demanded that the FTC ban Apple from selling the iPhone in the US.
Apple fired back with its own complaints, resulting in a long-running legal battle. Under the settlement agreement, both the companies have agreed to retract their complaints filed with the FTC.
Apple also also agreed to pay a one-off payment and will continue to pay licensing fees to Nokia. Nokia has claimed that the payment will have a positive impact on its second quarter financial results, indicating that the amount being by Apple is quite large.
“We are very pleased to have Apple join the growing number of Nokia licensees. This settlement demonstrates Nokia's industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market,” said Nokia CEO Stephen Elop, DailyTech reports.
The exact financial terms of the deal were not disclosed.