Nokia, Lenovo Conclude Patent Cross-license Deal, Settle Litigation
ESPOO (dpa-AFX) - Finnish telecom equipment maker Nokia Corp. said it concluded a multi-year, multi-technology patent cross-license agreement with Chinese PC and mobile maker Lenovo Group Ltd. The companies now agreed to settle all pending litigation over video-compression technology patents.
According to the agreement, Lenovo will make a net balancing payment to Nokia. The deal terms remain confidential.
Nokia had launched legal proceedings against Lenovo in 2019 over alleged infringement of 20 video-compression technology patents. The company filed cases in the United States, Brazil, India, as well as in Germany, where there were six cases between the parties.
European Shares Mostly Higher On Recovery Hopes
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were flat to slightly higher on Wednesday as economic recovery hopes grow amid steady progress with coronavirus vaccinations and additional government stimulus.
Final PMI numbers were in focus this morning, with the Eurozone s services PMI increasing from 45.7 to 49.6 in March. That was up from a preliminary reading of 48.8.
Traders await the minutes of the most recent Federal Open Market Committee meeting for clues as to when the U.S. central bank might raise rates.
The pan European Stoxx 600 was marginally higher at 435.32 after rising 0.7 percent on Tuesday.
Nokia, Lenovo conclude patent deal, settle litigation
The companies agreed to settle all pending litigation regarding video-compression technology patents.
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Finnish telecom equipment maker, Nokia Corp., said on Wednesday it had concluded a multi-year multi-technology patent cross-license agreement with Chinese personal computer and mobile maker
According to the agreement, Lenovo will make a net balancing payment to Nokia.
The deal terms remain confidential.
Nokia had inaugurated legal proceedings against Lenovo in 2019 because of the alleged infringement of 20 video-compression technology patents.
The company filed cases in the United States, Brazil, India, as well as in Germany, where there were six cases between the parties.