The Finnish multinational telecommunication and consumer electronic giant, Nokia has initiated a deal with Samsung for licensing its patent covering innovation in video standards.
Nokia released a statement ascertaining the deal with Samsung for licensing. Samsung is a South Korean multinational brand dealing in various consumer electronics gadgets.
Not much information was revealed by the company concerning the financial terms of the agreement. Samsung will be making the royalty payment to Nokia for the licensing, reports Reuters.
Nokia has been a major player in the mobile telephone industry where it was once the largest worldwide vendor of mobile phones and Smartphones in the world. While Microsoft buying its mobile phone business, the market of Nokia was hugely hit. Nokia continues to be a major player in the development of GSM, 3G, LTE, and also 5G. The patent portfolio of Nokia comprises 20,000 patent families including over 3500 declared essential to 5G.
Samsung has a stronghold over the electronic industries and even has a variety of subsidiaries in the insurance as well as advertising field. Recently Ericsson sued Samsung in Germany, Belgium, and the Netherlands for infringing its mobile patents claiming infringement in implementation patents. Moreover, Ericsson also sued Samsung in the US over violating contractual obligations to negotiate in good faith and to license patent in FRAND terms.
The U.S. International Trade Commission said last month it would open an investigation after Ericsson claimed Samsung had infringed on some of its patents in 4G and next-generation 5G wireless cellular communications infrastructure systems.
The move of Samsung getting into a deal with Nokia after already facing a lawsuit by Ericsson can be interesting. We will update the readers as and when further information on the deal becomes available.