Apple paid Nokia $2 billion for patent lawsuit settlement

Nokiamob reached out to Nokia thus confirming it from the Nokia PR representative that Apple paid Nokia around $2 billion

  1. Techook
  2. News
  3. Apple paid Nokia $2 billion for patent lawsuit settlement

Highlights

    • Till now the amount remained undisclosed
    • Nokiamob confirmed from Nokia that Apple paid them $2 billion
    • Around six years ago there was a similar patent dispute where Apple had to pay Nokia around €800 million

Apple and Nokia have both agreed to settle all of their patent disputes, with Nokia being the winner. Apple was to pay Nokia a one-time cash payment after which they would enter into a multi-year patent license. Apple and Nokia both agreed to this earlier this year and the later was paid an undisclosed amount. Now, after Nokia released its most recent earnings for the quarter we know that the sum was near to $2 billion. Nokia in its financial results for the June quarter mentioned that there was an increased cash inflow following an “upfront cash payment of approximately EUR 1.7 billion, part of which was recognized in the second quarter 2017 results.”

apple

EUR 1.7 billion which translates to almost $2 billion, might have been the upfront cash that Apple paid to Nokia. Due to the document not mentioning Apple’s name we can’t be sure this is the amount they might have paid. However, a representative from Nokiamob reached out to Nokia thus confirming it from the Nokia PR representative that this is the amount that Nokia was paid.

Also Read: Nokia smartphones could get Lumia Camera UI in near future

This is one of the biggest settlements that Apple has ever had to pay. It also is a huge win for Nokia as they have had a huge cash inflow due to this case. Just to remind you both the companies first signed a patent settlement around six years ago. That time also the amount of the settlement remained undisclosed. However, reports at that time claimed Apple had to pay around €800 million to Nokia up-front in cash. Which would be then followed by royalties on all iPhone sales that would follow.