Apple Paid Nokia 2$ Billion Over Patent Settlement

Nokia declared its financial results the other day. And Nokia is proud of their achievements as they have earned more than their expectations. The company has earned shares more than €0.08 instead of the expected €0.05.

Nokia Technologies gained a rise of 90% in operating profit for Q2 2017 as compared to Q2 2016. The company got a major boost of $2 billion by Apple over the patent license deal that the companies signed earlier in the quarter.

In May, this year Nokia and Apple signed an agreement and put an end to all the disputes. A multi-year patent license deal is now in effect. However, the details were not revealed.

Nokia initially mentioned an “upfront cash payment of approximately €1.7 billion, part of which was recognized in the second quarter of 2017”. Later it was confirmed that the transaction was done with The Cupertino Company.
Basically, Nokia reported operating loss of €433 million, 40% less than €667 million in Q2 2016.

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