LG Electronics will soon embed technologies developed by Nokia in its smartphones as the Korean firm has agreed to take a royalty-bearing smartphone patent licence from the Finnish telecom gear maker. Also Read - Nokia X20, X10 India launch hinted by local website, could break into 5G handset market
“We are pleased to welcome LG Electronics to our licensing programme,” Nokia Technologies President Ramzi Haidamus said in a statement. LG Electronics is the latest of more than 60 licensees for Nokia’s 2G, 3G and 4G mobile communication technologies and the first major smartphone manufacturer to join the licensing programme since Nokia divested its devices and services business to Microsoft in 2014. Also Read - Jio 5G service: Reliance Jio, Intel partner to develop 5G network for India
“We’ve worked constructively with LG Electronics and agreed on a mutually beneficial approach, including the use of independent arbitration, to resolve any differences. This agreement sets the stage for further collaboration between our companies in future,” Haidamus said. Also Read - iPhone selling in LG stores? Apple is apparently in talks for a new deal
The detailed royalty payment obligations will be subject to commercial arbitration and is expected to conclude within a 1-2 year timeframe. Other terms of the agreement remain confidential.