Nokia today announced that it has entered into a licensing agreement with LG that will allow the latter to make use of a number of smartphone technology related patents in its devices.
LG joins a list of 60+ OEMs who have licensed Nokia’s 2G, 3G and 4G communication related technology since the company sold its smartphone division to Microsoft in 2014. LG, however, is the first major smartphone OEM to enter into such an agreement with the Finnish company.
“We are pleased to welcome LG Electronics to our licensing program,” said Ramzi Haidamus, President of Nokia Technologies. “We’ve worked constructively with LG Electronics and agreed a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future.”
Details of the agreement, including the royalties that LG will be paying to Nokia, remain confidential. The agreement will be subjected to commercial arbitriation, and is expected to conclude within the next 1-2 years.