Nokia and Samsung settle patent dispute at ICC

Nokia has settled a patent dispute with rival Samsung after a court at the International Chamber of Commerce settled the amount of compensation payable to the Finland-based company.

In a statement today, February 1, Nokia said that the International Court of Arbitration had issued the award in the dispute between the two companies.

Financial terms of the agreement were not disclosed. However, Nokia said its patent licensing business now has an annual revenue run rate of about €800 million ($869 million).

In 2014, Nokia sold its once dominant phone business to Microsoft, leaving it to focus on telecommunications network equipment while retaining a large portfolio of handset patents.

Samsung and Nokia entered into arbitration in 2013 to settle the terms of a five-year extension to a patent licensing agreement starting from early 2014.

In its statement, Nokia said it “will continue to discuss its other relevant intellectual property portfolios” with Samsung.

“Nokia has strong IP assets … which include patents essential for a variety of standardised technologies as well as relevant implementation patents and proprietary technologies,” it added.

Ramzi Haidamus, president of Nokia Technologies, said: “The use of independent arbitration to resolve differences in patent cases is a recognised best practice, and we welcome the additional compensation payable to Nokia under the extended agreement.”