World

Apple paid Nokia $2bn as part lawsuit settlement

Agency | July 29, 2017 12:06 PM

San Francisco:A After a patents row that escalated between Nokia and Apple in December last year and was settled in May, Nokia has received a $2 billion upfront cash payment from Cupertino-based tech company as part of the settlement terms.

According to a report in TechCrunch on Friday, Nokia will not get $2 billion every quarter -- this was non-recurring catch-up revenue and Nokia hasn't said what it plans to do with all this cash.

The spat began last year when the tech giants locked horns over patents, with Apple filing an anti-trust lawsuit against third-party companies Patent Assertion Entities (PAEs) that act on Nokia's behalf, and the Finland-based firm suing Apple directly.

According to the Cupertino-based tech giant, Nokia was conspiring with PAEs patent assertion entities (Acacia Research and Conversant Property Management) in an "illegal patent transfer scheme" to wring money out of Apple because Nokia's cell phone business was failing.

Nokia also filed a suit directly against Apple in Europe and the US, claiming the company was still infringing on Nokia patents.

The lawsuit covered 32 patents, including display, user interface, software and video-coding technology.

Amid the escalating patents row with Finnish smartphone maker Nokia, Apple had also pulled all products made by Withings -- a French company and now a Nokia subsidiary -- from Apple Stores, be it online or retail.

Have something to say? Post your comment
Must Read
MLA Beri campaigns for Rekha Chaba to ensure her win
MLA Beri campaigns for Rekha Chaba to ensure her win
Voting on 17th December to elect representatives of 3 Municipal Corporations, 29 Municipal Councils & Nagar panchayats
Voting on 17th December to elect representatives of 3 Municipal Corporations, 29 Municipal Councils & Nagar panchayats
Capt. Amarinder govt. pushes Punjab towards financial emergency- AAP
Capt. Amarinder govt. pushes Punjab towards financial emergency- AAP
Customs duty on mobile phones increased to 15%, to hurt Apple
Customs duty on mobile phones increased to 15%, to hurt Apple
District Administration constitutes Eight committees for spark career guidance Mela 2017
District Administration constitutes Eight committees for spark career guidance Mela 2017
India's 'Newton' out of Oscar race, team still proud
India's 'Newton' out of Oscar race, team still proud
Balance between development, nature needed to protect environment: Prakash Baba Amte
Balance between development, nature needed to protect environment: Prakash Baba Amte
Would love to do Prem Chopra's role from 'Do Anjaane': Sharman
Would love to do Prem Chopra's role from 'Do Anjaane': Sharman
DGP announces to enhance scholarship from 25 lakh to 40 lakh
DGP announces to enhance scholarship from 25 lakh to 40 lakh
International Conference on Innovations in Computing Successfully Concludes at CGC Landran
International Conference on Innovations in Computing Successfully Concludes at CGC Landran
Kejriwal has double standards on private schools' fee hike: BJP leader
Kejriwal has double standards on private schools' fee hike: BJP leader
Flag March in Shahkot
Flag March in Shahkot