• Safi Bello

Apple paid Nokia $2 billion to escape fight over old patents

The Verge -------- Apple’s latest patent spat with Nokia resulted in a $2 billion up-front payment from the iPhone maker, a colossal sum that seems to indicate Apple was eager to avoid a protracted and ugly dispute that could rival the one it had with Samsung. The amount of the settlement, which was first announced back in May without the disclosure of a financial amount or the new licensing terms, was first spotted in Nokia’s second quarter earnings release by the blogNokiamob. “We got a substantial upfront cash payment of €1.7 billion from Apple, strengthening further our cash position. As said earlier, our plans is to provide more details on the intended use of cash in conjunction with our Q3 earnings,” reads the official transcript of Nokia’s quarterly earnings call with investors yesterday. Apple must still pay Nokia money over time, though far less on a recurring basis than this one-time lump sum settlement payment. To learn more click on the picture below to read the article.

Apple paid Nokia $2 billion to escape fight over old patents - Read More from The Verge

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