Nokia-Apple patent agreement reported resulted in $2 billion


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Some details have emerged of the recent patent deal struck early this year between Apple and Nokia. In its financial reporting Nokia said it received $2 billion from Apple.

The Verge:

"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. Neither Nokia nor Apple have disclosed the terms of the new licensing deal, including whether it involves recurring payments or how many years it will be in place.