Apple Paid Nokia $2 Billion in Cash to Settle Patent Dispute

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Apple Paid Nokia $2 Billion in Cash to Settle Patent Dispute

According to the most noteworthy talking points made during its recent quarterly earnings call, Nokia received a whopping $2 billion in cash from Apple to settle the companies’ roughly six-month patent dispute, which began back in December of 2016 when Nokia sued Apple over the latter’s alleged unlicensed use of the former’s technology in a variety of products including iPhone and iPad.

The feud, which was relatively short-lived in comparison to most intellectual property lawsuits lodged against the Silicon Valley tech-giant in recent years, ultimately led to Apple removing Nokia’s line of Withing’s Home products from its website and retail store shelves. While the six-month debacle was interspersed with the typical array of fiery courtroom antics, it was resolved on a relatively positive note around the end of May 2017, when the two companies announced a joint “patent license and business cooperation agreement.” Under the terms of this new agreement, Nokia, moving forward, will provide Apple with “certain network infrastructure products and services” in exchange for Apple reinstating Nokia’s line of Withing’s Home products for sale via Apple’s retail and online store channels and, more significantly, this mountain of cash to keep the Finnish-company at bay.

 


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