Settlement of the legal dispute between Apple and Nokia over patents
There was a legal dispute between Apple and Nokia over the patents of the Finnish company. Both the companies announced the signing of an agreement .The announcement was made five months after the two companies had sued one another over the royalty payments. The Apple company will be making a onetime sizeable payment to Nokia and the company would also be paying the future fees for using the technology of the Nokia Company. The deal had costed Apple company hundreds of millions of pounds.
Nokia company would be extending network infrastructural services to Apple
Under this kind of the business collaboration, Nokia company will be extending the network infrastructural services and Apple will be selling the health products of Nokia company which were earlier sold under the brand name Withings.In December 2016, Apple company had pulled back its withings products from all its online and retail stores .After certain period of time, the Nokia company sued Apple for carrying out the patent infringement. Although much of the details about the licensing agreement didn’t come into picture but Nokia has already declared that it has received an upfront cash payment and it will also be receiving certain kind of the additional revenues.
The two giants are collaborating for certain kind of initiatives in digital health segment
Even the two giants are also looking for collaborating in future for certain kind of initiatives in the digital health segment. So now after the settlement of the legal dispute, Apple would be restocking its selves with the Nokia’s health devices again and looking for further ways to strengthen the existing relationship between the two companies .To strengthen the engagement of the two companies and to maintain the refound peace, both the firms would be holding the summits from time to time. The company Nokia had sued Apple Company in eleven countries of the world and alleged that it had violated around 32 patents which are related to the field of the video coding technology, chipset and many more things.
Apple would be restocking Nokia digital health products to its digital and physical stores
There was also a previous patent license agreement that existed between the two firms but it was expired in the year 2016 and both the companies then took legal action .Apple made a complaint that it was being overcharged and Nokia accused Apple Company for violating its technology patents. Under this agreement, Nokia would now be delivering certain kinds of the network infrastructural products and also would be rendering certain services to the Apple Company.
The two companies are looking for ways to strengthen their business ties
Even the Cupertino based company would be restocking the Nokia digital health products too just like its smart watches to its digital and physical stores. The Apple company chief operating officer announced that they are highly pleased with the resolution of the disputes between the two parties and now they are looking for the new ways to strengthen their business ties.