Nokia has recently revealed that Apple made an effective payment of $2 billion in the last quarter of this year as part of the agreement to resolve the patent dispute involving the two companies.
The specific details of the agreement were not known until it was resolved. In addition, Nokia has also disclosed certain information that allows us to see how Apple and Nokia will work together in the future.
Apple and Nokia, from filing patent infringement complaints to working together
Nokia and Apple reach agreement after patent dispute
As early as May, Nokia and Apple jointly announced that they had reached an agreement to resolve the patent dispute and that they would work together to expand the relationship between the two:
Along with the information Nokia has provided about the cash payment that Cupertino’s company has made, more details have been revealed about how Apple will work with the Finnish company:
“First, we obtained a significant cash down payment of 1.7 billion euros from Apple, thus strengthening our cash liquidity. As we said earlier, our plans are to provide more details on the expected use of the cash along with our own earnings in the third quarter of this year 2017.
“Second, as opposed to a simple patent license agreement, we have agreed to a broader and stronger business alliance with Apple, thus providing greater potential to significantly elevate our business units in sectors such as IP routing, optical networks and digital health. Therefore, the value of the agreement will be reflected proportionally as sales of patent licenses in Nokia Technologies and the remaining portion as net sales in other Nokia business groups.
If we remember, Nokia filed the lawsuit against Apple claiming that the apple company infringed its technology patents last December, to which Apple initially responded with a lawsuit.
At the center of the dispute were 32 patents relating to the iPhone 3GS and several later devices, as well as other products that Apple claimed Nokia intentionally left out of the licensing agreement agreed to in 2011.
In business, feelings don’t count
In business, it’s the income that matters
This is yet another proof of the surrealism and interested connotations that the business world harbours. One day they are denouncing each other for astronomical figures, and the next day they come to an agreement to work together.
In the business world, you have to put aside feelings and grudges and know how to take advantage of the right moments, because these are the ones that truly make a company great.
Apple and Nokia have been able to channel their differences perfectly in order to reach a truly successful agreement, an agreement that I am completely sure will come to fruition and feed the coffers of both companies with millions and millions of dollars of profits with which they will be able to continue investing in future projects.
We recently published an interesting article in which we told you how Apple has managed to get LG to exclusively manufacture OLED panels for the upcoming iPhone 8 and later models for a payment of almost 3 million dollars. Click here to read the article.
And you, would you be able to reach a commercial agreement to work together with the company that has sued you? Leave it to us in the comments.