Nokia today announced that Samsung will extend a patent licensing agreement with Nokia for five years. The current agreement expires at the end of this year and will be renewed for 2014 onwards.
However, the two companies haven’t agreed upon the compensation Samsung will pay Nokia for the patents, which is expected to be closed in a binding arbitration sometime in 2015.
Nokia says it will retain its patent portfolio after the sale of its devices and services business to Microsoft, which is awaiting government approvals as well as an approval by Nokia shareholders that will be passed at an AGM later this month. Microsoft is paying Nokia upwards of $2 billion to license its patents and mapping assets.
After the acquisition, Nokia will be left with its NSN business, its HERE navigation services and its patents portfolio that it will further drive under its Advanced Technologies office.
