“This is a meaningful agreement between Nokia and Apple,” said Maria Varsellona, Chief Legal Officer at Nokia, responsible for Nokia’s patent licensing business. “It moves our relationship with Apple from being adversaries in court to business partners working for the benefit of our customers.”
Under a business collaboration agreement, Nokia will be providing certain network infrastructure product and services to Apple. Apple will resume carrying Nokia digital health products (formerly under the Withings brand) in Apple retail and online stores, and Apple and Nokia are exploring future collaboration in digital health initiatives. Regular summits between top Nokia and Apple executives will ensure that the relationship works effectively and to the benefit of both parties and their customers.
“We are pleased with this resolution of our dispute and we look forward to expanding our business relationship with Nokia,” said Jeff Williams, Apple’s chief operating officer.
“This agreement will strengthen our collaboration,” said Basil Alwan, President of Nokia’s IP/Optical Networks business. “We look forward to supporting Apple.”
Nokia will receive an up-front cash payment from Apple with additional revenues during the term of the agreement. Revenues will start to be recognized in the second quarter of 2017.