By Dominic Chopping

Nokia Corp. said Wednesday that it has settled a multi-year, multi-technology patent dispute with China's Lenovo Group Ltd.

Financial terms weren't disclosed, but Nokia said that, under the agreement, Lenovo will make a net balancing payment to Nokia.

Nokia began legal proceedings against Lenovo in 2019 over the use of video-coding patents. It said Wednesday that the agreement reached resolves all pending patent litigation and other proceedings between the two parties in all jurisdictions.

"The global accord struck will enable future collaboration between our companies for the benefit of customers worldwide," said Lenovo's Chief Intellectual Property Officer John Mulgrew.

Nokia has around 20,000 patent families, including over 3,500 patent families declared essential to 5G.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

April 07, 2021 02:57 ET (06:57 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Lenovo (PK) (USOTC:LNVGY)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025 Haga Click aquí para más Gráficas Lenovo (PK).
Lenovo (PK) (USOTC:LNVGY)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025 Haga Click aquí para más Gráficas Lenovo (PK).