LG in smartphone patent license pact with Nokia Technologies

NEW DELHI: Korea-based LG Electronics has entered into a smartphone patent license agreement with Nokia Technologies.

The company is the latest to join the 60 licensees for Nokia's 2G, 3G and 4G mobile communication technologies and the first major smartphone manufacturer to join the licensing program since Nokia divested its Devices and Services business to Microsoft in 2014.

"We are pleased to welcome LG Electronics to our licensing program," said Ramzi Haidamus, President of Nokia Technologies.

"We've worked constructively with LG Electronics and agreed a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future," he added.

The detailed royalty payment obligations will be subject to commercial arbitration, expected to conclude within a 1-2 year timeframe. Other terms of the agreement remained confidential between the two companies.