Samsung Signs Five-Year Patent License Agreement with Nokia
Samsung has extended by five years a patent license agreement with Nokia.
Nokia announced the extension of the agreement that was scheduled to conclude at the end of 2013. Samsung will begin with additional compensation at the beginning of 2014 and the full amount of compensation will enter arbitration to be decided before the end 2015.
Paul Melin, Chief Intellectual Property Officer of Nokia, said in a statement, "This extension and agreement to arbitrate represent a hallmark of constructive resolution of licensing disputes, and are expected to save significant transaction costs for both parties."
Nokia did not disclose the nature of the patents involved in the licensing agreement.
Nokia has agreed to sell its devices and services division to Microsoft but it will retain its patent portfolio.
Samsung settles up with Nokia just as a new patent infringement suit emerges, which finds Rockstar, the Apple-fronted group that bought Nortel’s patents, suing Samsung, Google, HTC, Huawei and four other companies.