Nokia (NOKIA.HE) has settled its legal battle with Apple (AAPL.O) with a new patent license agreement and also signed a business deal with the US giant, surprising investors who had expected the dispute to drag on. Nokia stood its ground, however, claiming that it had not been able to reach a licensing agreement with Apple and therefore had to defend its rights.Following the latest development, Nokia will receive an up-front cash payment from Apple with additional revenues forthcoming. “We are pleased with this resolution of our dispute and we look forward to expanding our business relationship with Nokia,” Apple chief operating officer Jeff Williams said in a joint statement from the companies. Nokia’s Chief Legal Officer Maria Varsellona said,

Nokia filed patent infringement complaints against Apple in December 2016 after the two failed to come to terms over licensing payments. Nokia and Apple announced today that they have settled all litigation related to their intellectual property dispute and agreed a multi-year patent license.Under the collaborative agreement, Nokia said it will provide "certain network infrastructure products and services" to Apple.
Apple Inc. and Nokia agree to increase their partnership after settling a patent dispute.