Nokia Corporation has reached a royalty-bearing patent licensing agreement with Samsung to license patents covering its innovations in video standards.
The Finnish multinational telecommunications company made the announcement on Thursday.
Nokia did not disclose the financial terms of the agreement, Samsung will make royalty payments to Nokia.
President of Nokia Technologies, Jenni Lukander expressed delight to have reached an agreement with Samsung in a press release
“We are delighted to have reached an agreement with Samsung which further validates Nokia’s decades-long investments to R&D and contributions to multimedia and video technology standards.”
About 20,000 patent families composed the company’s patent portfolio including over 3,500 declared essential to 5G
The deal comes months after rival Ericsson filed a lawsuit in the United States against Samsung in a dispute over royalty payments and patent licenses.
However, this is not the first patent deal between Nokia and Samsung. Samsung has been paying a royalty to Nokia in another patent licensing agreement inked in 2016.
In recent times Nokia has signed royalty-bearing licensing agreements with the likes of Samsung, Xiaomi, Apple, LG, and Blackberry.