"Hey Siri" support and possibly wireless charging case alongside AirPower charging mat.
Apple Begins Paying $2 Billion in Cash to Nokia as Part of Lawsuit Settlement
Nokia disclosed its financial results for the second quarter of 2017 this week, and within the results the company mentioned that it received an "up-front cash payment" of approximately €1.7 billion ($2 billion), part of which was said to be recognized during the Q2 2017 results. Nokiamob then reached out to Nokia, and the company confirmed that the cash payment came from Apple.
The payment is part of a settlement agreement reached between Apple and Nokia in May of this year, regarding a lawsuit began by Nokia in December 2016. In the original lawsuit, Nokia sued Apple in the United States and multiple other countries, with a complaint that stemmed from a disagreement between the two companies over licensing fees for Nokia technology.
The legal battle continued to escalate as Apple responded with its own antitrust lawsuit against Nokia. In Apple's claims, the company said that Nokia was transferring patents to patent holding entities in a bid to gain additional royalties from Apple, violating FRAND (Fair, Reasonable, and Non-Discriminatory) deals Apple had established with Nokia.
In the settlement news this past May, the companies agreed to a multi-year patent license deal, where Nokia would provide "certain network infrastructure products and services" to Apple, and Apple would then return all Nokia-owned health products to Apple retail and online stores.
In regards to the $2 billion payment from Apple, Nokia said it would disclose its plans for the money in its Q3 earnings later this year.
The payment is part of a settlement agreement reached between Apple and Nokia in May of this year, regarding a lawsuit began by Nokia in December 2016. In the original lawsuit, Nokia sued Apple in the United States and multiple other countries, with a complaint that stemmed from a disagreement between the two companies over licensing fees for Nokia technology.
The legal battle continued to escalate as Apple responded with its own antitrust lawsuit against Nokia. In Apple's claims, the company said that Nokia was transferring patents to patent holding entities in a bid to gain additional royalties from Apple, violating FRAND (Fair, Reasonable, and Non-Discriminatory) deals Apple had established with Nokia.
In the settlement news this past May, the companies agreed to a multi-year patent license deal, where Nokia would provide "certain network infrastructure products and services" to Apple, and Apple would then return all Nokia-owned health products to Apple retail and online stores.
In regards to the $2 billion payment from Apple, Nokia said it would disclose its plans for the money in its Q3 earnings later this year.
Second, we got a substantial upfront cash payment of €1.7 billion from Apple, strengthening further our cash position. As said earlier, our plans is to provide more details on the intended use of cash in conjunction with our Q3 earnings.So far, Apple has only partially paid the $2 billion cash sum to Nokia, so besides finishing that payment, Apple will also continue to pay royalties to the company during the term of the agreement.
Nokia Technologies led the way, with sales up 90% versus the same period last year. That was largely, but not completely, driven by our recently-announced agreement with Apple; and you can also see the impact of that agreement in our cash position.
Tag: Nokia
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18 months ago
Wasn't this the law suite, where Apple was paying for the royalties, but stopped because Nokia was over charging. Apple said we will pay if you charge fairly. The settlement is just the back payments as they reached the agreements on the new fees going forward. They really did not rip Nokia off, if I am remembering it correctly.
18 months ago
Nokia needs to make its year end quota somehow.
Yep, by claiming money that's rightly theirs.
18 months ago
When I read things like this, lawsuit after lawsuit, it really does make me question my loyalty to Apple. Can anyone who really knows what's going on with all of these continual lawsuits enlighten me about what is really taking place? Hoping someone can make me feel better about being such an Apple loyalist.
If you're basing your loyalty to a tech company on ethics you may as well not use any technology at all, my loyalty is based purely on my preference of their operating systems and ecosystem compared to the competitors.
18 months ago
Picasso
Yes, Picaso was credited with it, but the correct phrase is "good artists copy, great artists steal"
And almost everyone misinterprets the idea. It was not meant to say that people take other's work and claim it as their own, that is plagiarism or theft.
The idea is that an artist starts by experimenting a with the styles of previous artists, and when something works for them they permanently incorporate it into their own unique style which become a totally new style made up of a synthesis of previous ideas, which new artists then are influenced by.
And calling coders artists is totally B.S. (no offense to coders). And while SJ did say it, people are always using it out of the context that even he was using it.
18 months ago
Does this mean that apple is a bigger thief than Samsung since Samsung only had to pay 1 billion for stealing from apple?
Means that Apple made far far more money off their infringing devices than Samsung did. Had Apple only sold say 1 million iPhones, they'd only have had a payment of around $10k.
18 months ago
Wow... Apple's paying the billions left and right.
If they continue this way they'll be bankrupt pretty soon.
Even if they had to pay a settlement like this every year, their current cash hoard allows them to do it for 128 years.
“pretty soon”
18 months ago
Does this mean that apple is a bigger thief than Samsung since Samsung only had to pay 1 billion for stealing from apple?
18 months ago
Jerry mcguire 2
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They should pay them in pennies. That would be funny.
Itune cards.
18 months ago
Where are all those people who lambasted Nokia for "taking advantage of Apple because Nokia is irrelevant "?
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