Finnish tech giant Nokia has revealed that it has signed an agreement with Samsung in relation to its license patents that cover video standards. The deal, although an official valuation is still awaited, is expected to yield Nokia substantial payments from Samsung in form of royalties for use of several of its video standard patents.
Over the years, Nokia had been silently growing its innovative patent portfolio spanning various areas in the tech industry and has even made decent inroads into the emerging 5G space with a number of its patents. The company is reputed to have several thousands of patent licenses spread across a variety of patent families. The diverse patents are a fair reflection of hard work put in by the highly innovative and forward-looking Research and Development (R&D) unit of the company which is now yielding fruits from a competitor on the mold of Samsung.
Samsung is yet to provide official information on the fine details of the deal, but would expect to reap several benefits from the agreement as it continues to incorporate cutting-edge innovation into its devices being developed and released to the market. It expects to avoid any litigation from this deal, in the wake of its dispute with Ericsson on patent licensing and royalties payment, which led to a lawsuit being filed by Ericsson in the United States. Samsung was accused by Ericsson of infringing on its patents in several communications infrastructure deployments by Samsung in both 4G and 5G, thereby warranting an ongoing investigation by the International Trade Commission of the United States.
The deal will afford Samsung the opportunity to deploy the patent technology in several of its upcoming products for a better overall video experience. This deal certainly looks like a win-win scenario for both parties.
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