Apple And Nokia’s Dispute Finally Over; Two Giant Companies Made An Agreement To Help Each Other

First Posted: May 24, 2017 06:23 AM EDT

After a testy legal dispute over the Finnish company's patent, the giant tech companies Apple and Nokia finally made a deal. Reports claim that Apple and Nokia recently announced an agreement in a joint statement, five months after the companies have sued each other over royalty pavements.

According to Forbes, as part of the agreement, Apple will make a sizeable one-off payment, as well as future fees, for the use of Nokia's technology throughout the life of the agreements. Analysts claim that the estimated deal will be worth hundreds of millions of pounds to Nokia. The agreements will also make Nokia shares up by 7 percent.

Such legal battles are very common in the industry, but these can also drag on for several years. Analysts had not been expecting such a quick resolution to the dispute that started in December 2016.

Under the deal, Nokia will also be supplying network of infrastructure products to the Cupertino-based company. Apple will then resume the sales of Nokia's digital health products in retail and online stores. Apple will also look at further collaboration in health.

As per Apple Newsroom, the two giant companies will ensure that the relationship and their deal work effectively to the benefit of both parties and their customers. Digital health is probably one of the areas Nokia is targeting as it tries to develop new businesses to offset the industry in demand for network equipment.

Rajeev Suri, Nokia's chief executive officer, also announced that the deal would bring a huge help to expand network sales beyond telecom operators to global internet and tech giants. The deal involves business collaboration in areas particularly IP and optical equipment.

The chief operating officer of Apple, Jeff Williams, also claims that both parties are pleased with the resolution of their dispute. Both Nokia and Apple are looking forward to expand their business relationship.

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