Apple said to pay Nokia $2 billion for use of its wireless patents
Tucked inside Nokia's quarterly financial report yesterday is an enigmatic "up-front cash payment of approximately EUR 1.7 billion, part of which was recognized in the second quarter 2017 results."
When probed to clarify if this is part of the eventual settlement with Apple over wireless patents that has been dragging on for a while, the Nokia people confirmed, and urged to join the quarterly release press conference today for more details.
Nokia settled with Apple in May, and, at the time, said that it will be amending the structure of its capital optimization program, which apparently meant a big one-time payment from Apple, plus ongoing royalties for using the patents that the Finns have amassed through the years as one of the pioneering cell phone makers.
source: Nokiamob
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