Nokia and Samsung enter patent licensing agreement

Nokia and Samsung announced today that both parties have agreed to expand their patent cross-licensing agreement.

This latest agreement is in addition to the outcome of patent arbitration between the two companies announced last February.

Through this agreement, Nokia is expecting an increase in net sales for its licensing and technology arm Nokia Technologies starting from the third quarter of 2016.

In a statement, Nokia said that it is expecting its annualised net sales related to patent and brand licensing to grow to a run rate of approximately €950 million ($1.05 billion) by the end of 2016.

“With intellectual property portfolios from Nokia Technologies, Nokia Networks and Alcatel-Lucent, Nokia has a wealth of technologies relevant to mobile devices and beyond,” said Ramzi Haidamus, president of Nokia Technologies.

He added: “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.”