“A couple of months ago, Apple and Nokia announced that they have settled their patent dispute and entered into a multi-year licensing and business cooperation agreement. In their announcement, none of the parties revealed the details of the agreement or the amount of money involved in settling the dispute,” Rajesh Pandey reports for iPhoneHacks.
“Now, Nokia has disclosed in its earnings call that Apple has paid it almost $2 billion (€1.7 billion) in cash upfront for settling the patent dispute,” Pandey reports. “The company also provided more details on its licensing agreement with Apple which it says is more than a ‘simple patent licensing agreement.'”
Pandey reports, “The company says that it has agreed on an extensive business collaboration with Apple which will give a ‘meaningful uplift’ in its IP Routing, Optical Networks and Digital Health businesses over time.”
Read more in the full article here.
MacDailyNews Take: For Apple, that’s couch-cushion cash.
SEE ALSO:
Apple may have structured its Nokia settlement with its Qualcomm lawsuit in mind – May 23, 2017
Nokia and Apple sign patent license and business cooperation agreement, settle all litigation – May 23, 2017
Apple sues Nokia’s patent trolls; says Nokia attempting to ‘compensate for its own failing cell phone business’ – December 21, 2016
Nokia sues Apple in Germany and the US for infringement of Nokia patents – December 21, 2016
A billion here, a billion there, and pretty soon we’re talking real money. 🤑
That was the loose change in Tim Cook’s couch.
Yep.That’s already a huge amount of cash, irrespective of Apple or couch-cushion-cash. I wish I had 0.1% of that $2 billion as couch-cushion cash, I could retire immediately and not even had to invest the money to keep living out of it the next 25 years or so.
Actually, that’s a stunning amount of money for a patent settlement. I hope the added frills are worth it.
Oh and by ‘Nokia’ I assume we’re not talking about the portion that Microsoft bought.
No, traditionally anything Microsoft buys must never make a profit nor make any solid business sense and merely drain their coffers further. 😂
not disputing your post but for me the real Apple stunner was the $60 million it paid for the iPad name in China.
(remember Apple thought they already owned that name as they had bought it , but the fine print said the original deal only covered Taiwan… ! They had to pay the SAME company again for China . Stupid lawyer mistake cost apple tens of millions. I believe the original deal was in thousands and not millions as Apple had bought the name via a proxy . when it was revealed later in China it was Apple the price went up.. ).
for years I said Apple should name their products like “Apple Pad” etc as it would remove tens of millions for the ‘i’ symbol as it’s already been taken everywhere and finally Apple moved to Apple Watch (instead of iWatch) etc.
Thanks for reminding me. I’d forgotten they’d been scammed out of that much money. I remember watching the latest Chinese court BS as the thing proceeded. Dealing with China: Criminal Nation was Apple’s choice. *Burned* But I suppose they made up for it with profits.
Gee, Tim, ya’ll sure wasted all those lawyers’ fees. Next time better fess up early and save some change.
No wonder iTunes and Apple TV are such shit. Apple’s throwing money away.