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Nokia Corporation

Inside Information

24 January 2024 at 09:00 EET

Inside Information: Nokia signs 5G patent cross-license agreement with OPPO

   -- License covers Nokia's fundamental inventions in cellular technologies 
 
   -- Nokia to receive payments from OPPO for a multi-year period along with 
      catch-up payments to cover non-payment during the dispute period 
 
   -- The agreement resolves all pending patent litigation between the parties 

Espoo, Finland -- Nokia today announced it has signed a multi-year patent cross-license agreement with OPPO. Under the agreement OPPO will make royalty payments, along with catch-up payments to cover the periods of non-payment. The agreement resolves all pending patent litigation between the parties, in all jurisdictions. The terms of the agreement remain confidential as agreed between the parties.

Jenni Lukander, President of Nokia Technologies, said: "We are delighted to have reached a cross-license agreement with OPPO that reflects the mutual respect for each other's intellectual property and Nokia's investments in R&D and contributions to open standards. OPPO is one of the leading companies in the global smartphone market and we look forward to working together to bring further innovation to their users around the world. The new agreement - along with the other major smartphone agreements we have concluded over the past year - will provide long-term financial stability to our licensing business."

Feng Ying, OPPO's Chief Intellectual Property Officer, stated: "We are pleased to have reached this global patent cross-license agreement with Nokia, which includes cross-licensing for 5G standard-essential patents. This agreement reflects the mutual recognition and respect for each other's intellectual property and lays the foundation for future collaboration between OPPO and Nokia. OPPO continues to advocate for reasonable royalty fees and a long-term approach to intellectual property that supports the resolution of disputes through amicable negotiations and mutual respect for the value of all intellectual property."

The agreement is consistent with the assumptions Nokia has disclosed in the commentary with respect to Nokia Technologies long-term outlook in its Financial Report for Q3 issued on October 19, 2023. Nokia will begin recognizing net sales from this agreement, including catch up payments covering non-payment during the dispute period, in Q1 2024. Nokia Technologies is progressing towards the conclusion of the smartphone renewal cycle and is making good progress in its growth areas of automotive, consumer electronics, IoT and multimedia. It remains confident that its annual net sales run-rate will return to EUR 1.4 to 1.5 billion in the mid-term.

Nokia's industry-leading patent portfolio is built on more than EUR140 billion invested in R&D since 2000 and is composed of around 20,000 patent families, including over 6,000 patent families declared essential to 5G. Nokia contributes its inventions to open standards in return for the right to license them on fair, reasonable and non-discriminatory (FRAND) terms. Companies can license and use these technologies without the need to make their own substantial investments in the standards, fueling innovation and the development of new products and services for consumers.

About Nokia

At Nokia, we create technology that helps the world act together.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today -- and work with us to create the digital services and applications of the future.

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(END) Dow Jones Newswires

January 24, 2024 02:00 ET (07:00 GMT)

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