Nokia Corporation [NYSE: NOK] disclosed that it has finalized a multi-technology patent cross-license deal with Lenovo. As per the deal, Lenovo will make a total offsetting fee to Nokia. The deal has resolved all unresolved patent lawsuits and other trials between the two sides, in all jurisdictions.
The firms have not disclosed the terms and conditions of the deal. This deal mirrors the long-term commitment of the firm towards its contribution to R&D and its commitment to cellular and multimedia specifications.
The industry-top proprietary portfolio is established on more than €129 billion spent in R&D in the last 20 years. Moreover, it is also comprised of over 20,000 patent families, plus over 3,500 patent families declared important to 5G.
Share of Nokia Corporation [NYSE: NOK] traded down 1.23% at $4.00 during the trading session of Tuesday. The firm share went up 29.03% and -59.14% from its 52-week low and high, respectively. Looking at the liquidity of the firm, it has a current ratio of 1.50 and a quick ratio of 1.40. Nokia Corporation has a total market capitalization of $22.63 billion at the time of writing.
Furthermore, Nokia has also made a substantial contribution to video research and multimedia and the advancement of industry requirements over a period of more than 30 years. Nokia supports these and other developments to open standards in return for the right to license them on FRAND terms. The firm can permit and leverage these technologies without the necessity to make its own substantial investments in R&D.