Nokia and LG settle patent conflict in arbitration
The International Court of Arbitration, part of the International Chamber of Commerce, has handed down an award in a binding arbitration case between Nokia and LG Electronics.
Although the arbitration award and licence agreement will remain confidential, Nokia confirmed the decision in a press release published on Monday, September 18.
In June 2015, LG Electronics agreed to take a royalty-bearing smartphone patent licence from Nokia Technologies, Nokia’s technology and licensing business.
Korea-based LG Electronics became one of more than 60 licensees for Nokia’s 2G, 3G and 4G mobile communication technologies.
It was the first major smartphone manufacturer to join the licensing programme since Nokia divested its devices and services business to Microsoft in 2014.
The royalty payment obligations were subject to commercial arbitration.
“The use of independent arbitration to resolve differences in patent cases is a recognised best practice. We believe that this award confirms the quality of Nokia’s patent portfolio,” said Maria Varsellona, chief legal officer at Nokia.
Nokia expects that revenue for the agreement will be recognised in the third quarter of 2017. Additional revenues are expected during the term of the agreement.
In May, Nokia settled a dispute with Apple and the companies entered into a patent licensing agreement.
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