Nokia and Samsung say they have agreed to expand a licensing deal granting the two companies increased access to each other’s patented technologies.
Nokia said the deal will help boost annual sales from patent and brand licensing at its Technologies unit to around $1.05 billion by the end of 2016. The unit reported sales of EUR403 million in 2015.
With this expansion, Nokia says it expects a positive impact to the net sales of Nokia Technologies starting from the third quarter of 2016.
“With intellectual property portfolios from Nokia Technologies, Nokia Networks and Alcatel-Lucent, Nokia has a wealth of technologies relevant to mobile devices and beyond,” Ramzi Haidamus, President of Nokia Technologies says.
“We welcome this expanded agreement with Samsung which recognizes the strength of our assets, and we continue to pursue new licensing opportunities across a number of diverse industries”, he adds.
The agreement is in addition to the outcome of the arbitration between the two companies that was announced on February 1, 2016, the companies said.