The Chinese smartphone brand Vivo faced a lawsuit by Nokia over its patent rights last year due to which the company had to shut down its online store in Germany. The company has been trying to solve this issue with Nokia for a long time now and finally both the companies have resolved their issue based on mutual grounds.
Today Nokia has signed a multi-year 5G patent cross-license agreement with the smartphone brand Vivo ending all the pending patent litigation between the two in all jurisdictions.
Nokia has signed a multi-year patent cross-license agreement with vivo.
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— Nokia (@nokia) February 5, 2024
The license covers Nokia’s fundamental inventions in cellular technologies. Under the agreement, Vivo will make royalty payments to cover the dispute period. The terms of the agreement are not disclosed between the parties.
As per an official statement by Jenni Lukander, President of Nokia Technologies, “ This is the sixth major smartphone patent license agreement we have signed in the past thirteen months, and we have now completed our smartphone license renewal cycle.” On the agreement with Vivo, the President commented, “ We are delighted to have reached an agreement with Vivo which reflects mutual respect’s intellectual property rights.”
Nokia will begin recognizing net sales from this agreement, including catch-up payments covering the periods of non-payment in Q1 2024. Nokia is confident that its annual net sales run rate will return to EUR 1.4 to 1.5 billion in the mid-term.
